Nvidia’s AI Growth Hits 96% While Banned Chips Double on China's Black Market
NVDA•Nvidia generated over $250 billion in annual revenue and is on track for 96% quarter-over-quarter AI growth, outpacing SpaceX’s 22% revenue rise on $3.2 billion AI sales. Chips banned in China have doubled in black-market price while Nvidia shares fell more than 4% during broader tech sell-off ahead of Micron earnings.
1. Nvidia’s AI Revenue Surge
Nvidia reported over $250 billion in annual revenue and achieved 85% year-over-year growth in its AI business, with analysts forecasting 96% growth in the current quarter based on record data center demand.
2. China Ban Spurs Black Market Spike
Export restrictions on Nvidia’s high-performance AI chips have led to a doubling of their price on China’s black market, underscoring persistent demand despite official bans.
3. Tech Sector Sell-off Pressures Shares
The tech-heavy Nasdaq fell more than 2%, dragging Nvidia shares down over 4% as investors weighed higher interest rate risks and questioned the sustainability of AI spending.
4. Outlook Hinges on Micron Earnings
With Micron set to report earnings next week, investors see its results as a barometer for AI semiconductor demand that could influence Nvidia’s near-term stock trajectory.
