News > China’s EV slowdown drags down Nvidia’s ‘next billion-dollar business’
China’s EV slowdown drags down Nvidia’s ‘next billion-dollar business’
25/08/2023 12:08 PM | Click to read full article
US chipmaker Nvidia soundly beat analysts’ expectations for major revenue lines — except in automotive — as Chinese demand for electric cars moderates. The automotive segment primarily sells chip systems for assisted driving. Nvidia CEO Jensen Huang touted it last year as the company’s “next billion-dollar business.” In the three months ended July 30, automotive revenue fell by 15% from the prior quarter — the first sequential decline in more than a year.
