AI chip giant Nvidia's shares sink despite record sales of $30bn

The California-based technology giant has been one of the biggest beneficiaries of the AI boom.

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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.

https://www.bbc.com/news/articles/c984jrj24wyo

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