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Nvidia faces increasing competition from Huawei in the AI chip market, despite U.S. sanctions limiting Huawei's technology access. Huawei's revenue surged to 860 billion yuan in 2024, bolstered by its self-developed HarmonyOS NEXT and improved Ascend chip production, while Nvidia reported $12 billion in sales in China, maintaining its market lead. Nvidia anticipates strong demand for its Blackwell processors, projecting first-quarter revenue of $43 billion, although gross margins are expected to dip temporarily.
The stock market faced significant losses, particularly in big-cap growth stocks, with the Nasdaq and S&P 500 dropping below critical levels. Nvidia's stock fell 6.2% after a strong start to the year, while Tesla and Palantir also experienced declines. Investors are advised to be cautious with new purchases and consider reducing exposure to underperforming stocks as the market remains choppy.
U.S. markets rose after Nvidia's earnings report, with the S&P 500 up 0.53% and the Dow Jones climbing 1.06%. Despite Nvidia's impressive revenue growth, its shares only increased 0.5% due to concerns over slowing growth and conservative sales projections. Bitcoin approached $100,000, fueled by optimism following Trump's election, while the Fed faces pressure amid inflationary policies.
Nvidia's CEO Jensen Huang announced that the company will exceed its previous estimates for Blackwell chip sales, driven by strong demand from major clients like Microsoft and OpenAI. Despite facing supply constraints, Nvidia expects to ship more Blackwell chips each quarter, with revenue projections rising significantly. The company anticipates that Blackwell sales will eventually surpass those of its previous generation Hopper chips, marking a pivotal moment in the AI revolution.
Nvidia reported a 94% revenue increase to $35.1 billion, driven by strong demand for its AI chips, despite earlier production issues with its Blackwell GPU. CEO Jensen Huang confirmed that production is now on track, with significant sales expected from major clients like Microsoft and OpenAI. The company continues to lead the AI market, although analysts caution that profit margins may shrink as it shifts to more expensive chip production.
Colette Kress
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