Nvidia Reports Record Sales Despite Share Price Decline

Nvidia has experienced a significant surge in demand for its semiconductors, with revenue more than doubling in the latest quarter compared to the same period last year. The company reported record revenues of $30 billion over a three-month period, exceeding analyst forecasts of $28.7 billion. This growth is attributed to the AI boom, with Nvidia being one of the major beneficiaries. However, some analysts were disappointed by the company's forecast of third-quarter sales of $32.5 billion, which fell short of their estimates of up to $37.9 billion.