Nvidia current-quarter forecast beats expectations

(Reuters) – Nvidia Corp forecast better-than-expected first-quarter revenue on Wednesday, betting on strong demand for its graphic chips used in gaming devices and data centers.

As people wait for vaccine rollouts, extended stay-at-home has sustained the demand for chips used in personal computers, gaming devices and data center infrastructure that enable remote working.

While Nvidia has been known for its graphic chips, its aggressive push in the data centers market has allowed it to become the most valuable semiconductor maker by market capitalization, eclipsing rivals Intel Corp and Advanced Micro Devices.

The company expects first-quarter revenue of $5.30 billion, plus or minus 2%, above analysts’ average estimate of $4.51 billion.

Revenue in the quarter ended. Jan. 31 rose to $5 billion from $3.11 billion, a year earlier. Analysts on average were expecting it to be $4.82 billion, according to IBES data from Refinitiv.

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