Nvidia Corp. has given a bullish revenue outlook for the current quarter, with sales in the three months ending in April expected to be about $6.5 billion, compared to analysts' average estimate of $6.35 billion. The positive forecast is due to Nvidia's push into artificial intelligence processors, which is helping offset sluggish demand for personal computer chips. The company has also announced its own AI cloud service, in partnership with Oracle, Microsoft and Google, which will offer the ability to use Nvidia GTX machines for AI processing via simple browser access. The shares climbed as much as 9.1% after the report was released, making Nvidia the world's most valuable chipmaker again. However, the company's dependence on the PC market for a large chunk of sales still dragged on its results last quarter.
Worth a watch.