Nvidia stocks were up by 1.30 per cent in pre-market on Thursday as AI giant's CEO Jensen Huang has aimed to assure investors that the world's most valuable company can keep up its blockbuster growth with the help of a broad base of customers and that new products will help it beat the $1 trillion in sales it has forecast for its flagship AI chips. Shares fell 1.6 per cent in extended trading, however, a sign that investors believe Nvidia will face tougher competition even though it forecast second-quarter revenue above Wall Street estimates and announced an $80 billion share repurchase program.
Nvidia expects revenue of $91 billion, plus or minus 2 per cent, compared with estimates of $86.84 billion, according to data compiled by LSEG.
