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Nvidia delivers another earnings and revenue beat on rampant data center growth
- Nvidia's shares rose 5% after reporting better-than-expected earnings and revenue, with a 73% growth in data center business.
- The company beat analyst forecasts with earnings of 96 cents per share and revenue of $44.06 billion.
- Despite falling short on guidance, Nvidia attributed it to the impact of U.S. export restrictions on advanced chips selling to China.
- The export restrictions led Nvidia to write off $4.5 billion in inventory and forfeit $15 billion in planned sales.
- Nvidia's gross margin was affected, but the company is still aggressively growing in the AI infrastructure space globally.
- Despite challenges in China, Nvidia's data center division showed a 73% increase, accounting for 88% of total revenue.
- Sales of Nvidia's gaming division increased by 42%, while its automotive and robotics chip sales grew by 72%.
- Nvidia's stock, fueled by its data center and gaming divisions, remains stable in the market, near its record high.
- The company's continued growth outlook remains strong, with a focus on AI, gaming, automotive, and robotics applications.
- Despite geopolitical challenges, Nvidia's performance and revenue forecast demonstrate resilience and growth potential.
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