A sign will be placed in front of NVIDIA headquarters on May 10, 2018 in Santa Clara, California.
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Nvidia shares rose more than 6% on Monday after announcing several new products and investors saying they expected first-quarter earnings to be higher than previously expected.
According to Nvidia, revenue in its first fiscal quarter, which ends in May, is likely to be higher than $ 5.3 billion, which was the previous estimate for investors from February.
Analysts surveyed by Refinitiv previously estimated that Nvidia would report $ 5.32 billion in sales in the quarter.
“Although our fiscal first quarter in 2022 is not yet complete, total revenue in the first quarter is higher than the $ 5.30 billion outlook projected in our year-end financial earnings,” said Colette Kress, Chief Financial Officer of Nvidia. said in a statement.
The signal for a strong quarter comes because demand for microchips, such as the products sold by Nvidia, was high worldwide, leading to a shortage of prices and high prices for the desired chips, such as the latest series of graphics cards from Nvidia . Nvidia’s total revenue in its 2020 calendar increased by 61%.
Nvidia said it may be difficult to find the chips by the end of the year, but that it will still send enough chips to report ever-growing revenue.
“Total demand remains very strong and continues to exceed supply, while our channel inventory remains fairly meager,” Kress said. “We expect demand to exceed supply for much of this year.”
Nvidia on Monday announced a new server chip called Grace, new systems for using artificial intelligence on servers, software for managing chatbots and speech recognition, and new products for self-driving cars.
Nvidia also said that its chips for miners in industrial cryptocurrencies would report as much as $ 150 million in revenue in the first fiscal quarter, compared to a previous estimate of $ 50 million.