Nvidia forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on booming demand for its AI chips from cloud providers against the backdrop of widespread concerns of an artificial intelligence bubble.

The results from the AI chip leader mark a defining moment for Wall Street, as global markets looked to the chip designer to determine if investing billions of dollars in AI infrastructure expansion had resulted in towering valuations that potentially outpaced fundamentals.

The world’s most valuable company expects fiscal fourth-quarter sales of $65 billion, plus or minus 2%, compared with analysts’ average estimate of $61.66 billion, according to data compiled by the London Stock Exchange Group (LSEG).

Shares of the AI market bellwether rose over 4% in extended t

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