World's most valuable company expects revenue of US$91 billion, plus or minus 2 per cent.

Nvidia forecast second-quarter revenue above Wall Street expectations on Wednesday (May 20), and announced an US$80 billion share repurchase programme. Shares of the company were marginally down in extended trading. The world's most valuable company expects revenue of US$91 billion, plus or minus 2 per cent, compared with estimates of US$86.84 billion, according to data compiled by LSEG. Nvidia's results are largely considered a barometer for the AI market's health, as its chips are used in virtually every major data centre in the world, powering the largest and most advanced models. The company also said it would increase its quarterly cash dividend from 1 cent per share to 25 cents per share. Spending on AI infrastructure continues to grow rapidly, with US tech giants, including Alphabet, Amazon and Microsoft, expected to spend more than US$700 billion on AI this year, a sharp jump from around US$400 billion in 2025. While heavily relying on Nvidia's expensive processors, the companies are also pouring funds into developing their own custom chips to run models, posing a risk to Nvidia's long-held dominance over the chip industry. Those chips are targeted at inferencing - the process by which AI responds to user queries - which represents a much larger market than training. Nvidia is facing competition not only from Big Tech but also from other chip rivals, including Intel and Advanced Micro Devices, which have touted a large revenue opportunity from the inference market. The Santa Clara, California-based company has made moves to defend its position. It unveiled a new central processor and AI system built on technology from Groq - a chip startup specializing in inference - in March. Nvidia reported first-quarter revenue of US$81.62 billion, beating analysts' average estimate of US$78.86 billion, according to data compiled by LSEG. Data centre revenue in the quarter came in at US$75.2 billion, compared with the average analyst estimate of US$72.8 billion. On an adjusted basis, the firm earned US$1.87 per share, compared with market estimates of US$1.76.

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On June 9, 2026, the tech-heavy Nasdaq Composite plunged 2.17%, losing more than 560 points as AI and semiconductor stocks extended their sell-off.