Nvidia's forecast suggests robust demand from AI heavyweights
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Nvidia's quarterly outlook on Wednesday suggested demand from Microsoft, Amazon and other heavyweight tech companies racing to build out AI infrastructure remains robust following last month's launch of Chinese startup DeepSeek's low-cost model that raised fears of overspending. Shares of Nvidia rose almost 2% in extended trade after the dominant AI chipmaker forecast quarterly revenue above analysts' estimates. Microsoft, Amazon, Meta Platforms and Alphabet, among Nvidia's largest customers, were mostly unchanged. Shares of those companies, among the components of the so-called "Magnificent Seven", have delivered big returns as they raced to dominate emerging AI technology following the debut of ChatGPT in November 2022. More recently, most of those stocks have stumbled and investors have become more cautious. While Nvidia delivered a 78% surge in quarterly revenue, it said its first-quarter margin would ...