Chipmaker Nvidia forecasts robust revenue on AI, metaverse buzz

Nvidia Corp on Wednesday forecast fourth-quarter revenue above Wall Street expectations, betting on growth in its data centre business as more internet companies set out to invest in artificial intelligence and the metaverse. The company's shares were up nearly 4 percent in extended trading. They have more than doubled this year. The world's biggest maker of graphics and AI chips expects current-quarter revenue of $7.40bn, plus or minus 2 percent, above analysts' average estimate of $6.86bn, according to IBES data from Refinitiv. The coronavirus pandemic boosted demand for graphic chips used in gaming consoles and computers as consumers staying at home spent more time playing video games, with support also from cryptocurrency miners.