Analysts expect AI chip demand to remain strong

Although Nvidia has not been the market's favorite AI trade this year, analysts covering the name see a recovery ahead as demand trends appear strong.

Company set to beat Wall Street expectations but analysts await projections for future demand for firm’s AI chips

As OpenAI and Big Tech powerhouses buy more and more Nvidia chips, annual revenue has gone from $27 billion in 2022 to a projected $208 billion this year.

The chip maker says revenue for the three months to October jumped 62% to $57bn.

The positive earnings report comes a month after Nvidia CEO Jensen Huang said the company had $500 billion in orders for its AI chips.

Nvidia delivered record third-quarter sales and robust guidance, beating Wall Street estimates and reassuring investors worried about an AI bubble.

Analysts expect AI chip demand to remain strong

Strong revenue and “off-the-charts” GPU demand show Nvidia’s AI engine still roaring as CEO Jensen Huang delivers a beat-and-raise quarter

The AI chipmaker's strong quarterly earnings have boosted global AI stocks.

CEO Jensen Huang sounded confident in the company's products and bullish on the company's outlook during a call with analysts.