Investing.com -- Nvidia reported Wednesday upbeat guidance for the current quarter as first-quarter results topped Wall Street estimates, driven by robust AI-led demand in its data center business and the chipmaker also announced a ten-for-one forward stock split.
The beat was driven by a 427% jump in data center revenue to $22.56B in Q1 from a year earlier, beating analyst estimates of $21.32B, underpinned by AI-led demand for hardware to train various AI applications including large learning models. Looking ahead to fiscal Q2, the company forecasts revenue of $28B, give or take 2%, that was above estimates for $26.54B. Adjusted gross margin was expected to come in at 75.5% for Q2.Nvidia also announced a ten-for-one forward stock split starting Jun.7, to make its stock ownership more accessible to employees and investors.
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Source: CNBC - 🏆 12. / 72 Read more »