Nvidia's first-quarter report sparked a rally in its shares. But the chip-maker said it was still wrestling with an uncertain data center market.
Jensen Huang, CEO of Nvidia, reacts to a video at his keynote address at CES in Las VegasNvidia shares rallied Wednesday after it posted upbeat results, but the stock slid after the company said that, like Intel, it was still wrestling with uncertainty in the data center market.
The fuzziness apparently was so bad, the company opted not to offer a full-year guidance, even as CEO Jensen Huang declared that the spending"pause" that has hit other chip-makers"will pass." "Things are worse so they're pulling the full-year guide," Bernstein Research analyst Stacy Rasgon told Business Insider."It's not complicated."with a downbeat report that also pointed to a weak data center demand. Intel CEO Bob Swan pointed to"a more cautious IT spending environment."
"I don't know if I'd call it 'bleak,' but certainly uncertain," he said. The other gains Nvidia highlighted on the call, he added, were"not enough to make up for the digestion [problem] in the rest of the business."
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