Nvidia Q2 Revenue Exceeds Expectations, Shares Dip

Nvidia reported a substantial increase in revenue for Q2 2024, reaching $30 billion, which exceeded analysts' expectations. Despite this, Nvidia's shares fell by around 7% in after-hours trading due to concerns over potential slowing growth and high market expectations that were not significantly surpassed. Investors were also disappointed by the company's Q3 revenue guidance, which, while slightly above estimates, was not as strong as anticipated. Nvidia's ongoing demand for AI chips and upcoming Blackwell chips continue to drive optimism, though market competition and supply issues remain pivotal factors. The company's focus on sovereign AI and continued resilience in international markets, especially in China, underscore its strategic initiatives for future growth.