Nvidia stock dips despite optimistic forecast for ‘Age of AI’ [Video]

Nvidia released its earnings report on Wednesday and projected that fourth-quarter sales were above Wall Street estimates, but investors balked as those figures fell short of the lofty expectations the artificial intelligence (AI) giant has garnered during its historic rise.

Nvidia forecast fourth-quarter revenue of $37.5 billion, plus or minus 2%, compared to analysts’ average estimate of $37.09 billion, according to data compiled by LSEG.

The company’s stock closed down 0.76% in Wednesday’s trading session. It fell further in after-hours trading, declining by 3.4% at one point, though that drop was pared back to about 1.9%.

“The age of AI is in full steam, propelling a global shift to Nvidia computing,” said Jensen Huang, founder and CEO of Nvidia. “Demand for Hopper and anticipation for Blackwell — in full production — are incredible as foundation model makers scale pretraining, post-training and inference.”

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“AI is transforming every industry, company and country. Enterprises are adopting …