Nvidia s forecast beat estimates, but by a smaller amount than it had last year. For the first three quarters of 2023, Nvidia reported quarterly revenue that beat analyst estimates by between 10% and 20%.
Demand for artificial-intelligence servers has grown rapidly, with research firm TrendForce estimating shipments to rise about 40% this year, thanks to their use in powering products like OpenAI s ChatGPT.
The results will also be a major test for the AI-powered rally that has helped drive up the US stock market this year, with the Philadelphia semiconductor index up nearly 50% in 2023.
Technology companies and developers have been rushing to deploy generative artificial intelligence into their applications following the success of OpenAI’s ChatGPT ch.