Shares in Nvidia have fallen despite the artificial intelligence (AI) chip giant comfortably beating expectations after more than doubling its sales.
Nvidia announced record revenues of $30bn (£24.7bn) over a three-month period.
The company has been one of the biggest beneficiaries of the AI boom, with its stock market value soaring to more than $3 trillion.
But while analysts have grown used to Nvidia producing “spectacular” sales growth, the latest results indicate “that rate of growth was starting to slow,” said Simon French, head of research at Panmure Liberum.
Analysts had forecast sales growth of $28.7bn for the three months to 28 July.
Nvidia surpassed this with revenues increasing by 122% compared to the same period last year.
But following the release of the results, Nvidia’s share price fell by 6% in after-hours trading in New York on Wednesday.
On Thursday, its shares were down about 2% in early trading, but its stock…
