NEW YORK, May 25 — Nvidia Corp yesterday forecast second-quarter revenue above Wall Street estimates, as the growing popularity of artificial intelligence drives demand for its chips used in powering the technology at big data centres.
The company forecast current-quarter revenue of US$11 billion (RM50.5 billion), plus or minus 2 per cent. Analysts polled by Refinitiv expect revenue to be US$7.15 billion.
Fitch puts US on negative credit watch
May 24 (Reuters) — Ratings agency Fitch said on Wednesday it had put the United States’ “AAA” rating on negative credit watch, citing increasing political disputes around the country’s debt limit.
President Joe Biden’s administration and congressional Republicans are at an impasse over raising the federal US$31.4 trillion debt ceiling, with both sides casting the other’s proposals as too extreme.
Fitch said that the country’s rating could be lowered if the US does not raise or suspend its debt limit by the given date.
However, it added that chances of the US not repaying its debts on time are very low.
Fitch now predicts that the US government will spend more than it earns, creating a deficit of 6.5 per cent of the country’s total economy in 2023 and 6.9 per cent in 2024. — Reuters
