Nvidia reported second-quarter revenue that beat Wall Street estimates by roughly $4 billion, with guidance for the current quarter set at $108 billion, above the $103.9 billion analysts expected. Jay Goldberg of Seaport Research Partners, the only Wall Street analyst with a sell rating on Nvidia, said the results will not be enough to move the stock, arguing that chip allocations are already locked in for the year and that the lack of supply-side upside limits potential gains. He also highlighted Nvidia’s dependence on Taiwan Semiconductor Manufacturing Company and growing competition from AMD’s Instinct chips, Google’s TPU, and in-house chip efforts at OpenAI and Anthropic.
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