Shares of Nvidia dropped 8% after the chipmaker, in a preliminary earnings announcement for its July quarter, warned that weaker-than-expected demand for its gaming chips caused it to fall far short of the revenue target it had shared with investors last quarter. Revenue from gaming chips fell 33% to $2.04 billion compared to last year and dropped 44% from last quarter. But Nvidia’s newest...
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Nvidia Issues Revenue Warning for July Quarter, Shares Drop 8%
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What Sequoia Should Have Said
I remember my jaw dropping last year when The Information’s Juro Osawa reported that Sequoia China was in talks to raise more than $8 billion in new funding from U.S. investors and others.I was baffled. I just couldn’t imagine that Sequoia, which had picked a slew of winners in the U.S. and China ranging from Google to Meituan, was going to continue to draw such inflows from the U.S. to its...
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