Nvidia forecasts Q4 revenue above estimates despite AI bubble concerns

Nvidia has forecast fourth-quarter revenue above Wall Street estimates and is betting on booming demand for its AI chips from cloud providers even as widespread concerns of an artificial intelligence bubble grow stronger. The world's most valuable company expects fourth-quarter sales of $65bn, plus or minus 2 percent, compared with analysts' average estimate of $61.66bn, according to data compiled by LSEG. Anthropic's AI hacking claims divide experts "The AI ecosystem is scaling fast with more new foundation model makers, more AI start-ups across more industries and in more countries. AI is going everywhere, doing everything, all at once," Nvidia CEO Jensen Huang said in a statement. Before the results, doubts had pushed Nvidia shares down nearly 8 percent in November after a 1,200 percent surge in the past three years.