AI giant Nvidia shares slip despite record sales

AI powerhouse Nvidia on Wednesday reported quarterly earnings that beat market expectations, but shares slipped amid fears of an AI chip spending bubble and concerns that the company’s business may be stalled in China.

The California firm reported profit of $26.4 billion on record revenue of $46.7 billion in the recently ended quarter, driven by intense demand for chips from big tech companies to power AI datacenter computing.

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Source: AFP