Nvidia's upbeat forecast soothes fears of AI spending bubble

Nvidia's CEO Jensen Huang says of the idea there is an artificial intelligence bubble, From our vantage point, we see something very different." Nvidia delivered a surprisingly strong revenue forecast and pushed back on the idea that the artificial intelligence industry is in a bubble, easing concerns that had spread across the tech sector. Sales will be about $65 billion in the January quarter, the chipmaker said in a statement on Wednesday. Analysts had estimated $62 billion on average, according to data compiled by Bloomberg. The outlook signals that demand remains robust for Nvidia's artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia has faced growing fears that the runaway spending on such equipment isn't sustainable.