Nvidia shares up 5% after-hours. Here's what the latest results print tells us about the state of AI

Nvidia Corp ( NASDAQ:NVDA XETRA:NVD ) has forecast revenue growth of about 70% in its next financial year, the first time the chipmaker has guided investors a full year in advance. Colette Kress, the chief financial officer, told Wednesday's earnings call that the figure was constrained by what the company can build rather than by what customers want to buy. Jensen Huang, the founder and chief executive, was blunter under questioning from analysts, saying demand was running well above 70% and that supply was the only reason the number was not higher. Reversing the sell-off The disclosure reversed an initially negative reaction to the results themselves. Nvidia shares slipped in extended trading after the numbers were published , then climbed almost 5% once Kress began speaking, having closed the regular session at $209.66. That followed seven consecutive daily falls, the longest losing streak since 2022, which had left the stock roughly 11% below its record high going into the results. Nvidia, the world's most valuable company with a market capitalisation above $5 trillion, is treated by investors as a proxy for the health of the wider artificial intelligence (AI) trade. Defending the financing Kress used the call to confront the criticism that has dogged the company for months, namely that it is funding the customers who buy its chips. She said Nvidia recognised the scale of its support for frontier AI laboratories and knew some would call it circular financing, before adding that the company saw ...