Nvidia beats earnings expectations and forecasts strong sales growth, with a projected $65 billion in sales for the current quarter, a 65% annual increase. CEO Jensen Huang rejects concerns of an AI bubble, stating three growing uses for AI that will drive infrastructure investments. The company affirms its $500 billion AI chip forecast for 2025 and 2026, with recent deals contributing to order backlog growth. Nvidia reports “insignificant” H20 chip sales in China due to geopolitical issues and competitive market, aiming to gain approval for more advanced chip exports. Analysts remain positive on Nvidia’s long-term outlook despite challenges in China sales.

Read more at CNBC: Bubble talk, forecast and China orders