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Nvidia posts solid growth despite uncertain China outlook

US chip designer has become the world’s most valuable company off the back of the artificial intelligence boom

Nvidia reported another quarter of strong growth on Wednesday in the face of markets jitters about how its China chip business will navigate geopolitical tensions between Washington and Beijing.

The $4tn tech giant at the heart of the AI boom said its revenue was $46.7bn for the quarter to July 28, up 56 per cent year on year and slightly above consensus estimates of $46.5bn, according to Visible Alpha.

Nvidia said it expected $54bn in sales for the current quarter, plus or minus 2 per cent, compared with expectations of $53.8bn.

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