A poster is placed in front of NVIDIA headquarters on May 10, 2018 in Santa Clara, California.
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Shares of Nvidia rose more than 6% on Monday after announcing several new products and informing investors that they expected their first-quarter revenue to be higher than previously forecast.
Nvidia said revenue in its first fiscal quarter, which ends in May, is likely to exceed $ 5.3 billion, which was its previous estimate for investors as of February.
Analysts polled by Refinitiv previously estimated that Nvidia would report sales of $ 5.32 billion in the quarter.
“While our first fiscal quarter of 2022 has not yet been completed, total first quarter revenue is still above the $ 5.30 million forecast provided during our fiscal year-end earnings call,” said Colette Kress, chief financial officer of Nvidia, in a statement.
The signal about a strong quarter comes as demand for microchips, such as products sold by Nvidia, has been high worldwide, leading to a lack of supply and high prices in the secondary market for desirable chips. such as Nvidia’s latest line of graphics cards. Nvidia’s total revenue in its 2020 calendar increased by 61%.
Nvidia said its chips could be hard to find until the end of the year, but that it would still send enough chips to continue to report growing revenue.
“Global demand remains very strong and continues to outstrip supply, while our channel inventories remain quite scarce,” Kress said. “We expect demand to continue to outstrip supply for much of this year.”
On Monday, Nvidia announced a new server chip called Grace, new systems to run artificial intelligence on servers, software to run chatbots and voice recognition, and new products for autonomous cars.
Nvidia also said its chip line for industrial cryptocurrency miners would report revenue of up to $ 150 million in the first fiscal quarter, up from a previous estimate of $ 50 million.