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Nvidia Corp., the world’s most valuable publicly traded company, gave a tepid revenue forecast for the current period, fueling concerns that a massive run-up in artificial intelligence spending is slowing.

Sales will be roughly $54 billion in the fiscal third quarter, which runs through October, the company said in a statement Wednesday. Though that was in line with the average Wall Street estimate, some analysts had projected more than $60 billion. The forecast excluded data center revenue from China, a market where it has struggled with US export restrictions and opposing pressure from Beijing.

The company’s tepid outlook adds to concern that pace of investment in artificial intelligence systems is unsustainable. Difficulties in China also have clouded Nvidia’s business. Though the Trump administration recently eased restrictions on exports of some AI chips to that country, the reprieve hasn’t yet translated into a rebound in revenue.

Today's show features:
- Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners, and Bloomberg Intelligence Global Head of Technology Research Mandeep Singh break down Nvidia’s latest earnings report
- Natasha Sarin, Professor of Law at Yale Law School, and Co-Founder and President of the Yale Budget Lab, on US monetary and trade policy issues
- Dana Telsey, Founder, CEO and Chief Research Officer of Telsey Advisory Group, on key trends within the latest wave of retail earnings and the outlook for the US consumer

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