Nvidia sales set a fresh record on Wednesday, as the world’s most valuable public company continued to capitalize on strong demand for AI computing, but the company’s lackluster outlook stoked jitters about future demand, sending its share price lower. Sales in the July quarter hit $46.7 billion, roughly in line with analyst estimates. Revenue from the important data-center segment, which includes sales of the company’s most powerful chips, used to train and refine artificial-intelligence models, rose 56% to $41.1 billion, but came in slightly lower than the $41.3 billion analysts had expected. Quarterly net income was $26.4 billion, 59% higher than a year earlier. The company predicted revenue of $54 billion for the third quarter, slightly higher than consensus estimates by Wall Street analysts. After several blockbuster quarters, the revenue projection was seen as underwhelming and stoked worries that growth in demand for AI chips might be hitting a plateau.

Full report : Nvidia says it had no new H20 sales to China in Q2 and assumes the same for Q3, but could realize $2B-$5B in H20 sales in Q3 if geopolitical issues are resolved.