BLS: Many numbers need correction, but the impact is negligible.

BLS: Many numbers need correction, but the impact is negligible.

Indian data center-related stocks experienced a notable uptick on May 29, following Nvidia's positive Q1 results. The semiconductor giant reported quarterly sales that exceeded expectations, as customers stockpiled its AI chips before new US curbs on China exports took effect. The positive news had a ripple effect on Indian data center stocks, with shares of Anant Raj's company, E2E Networks, Black Box, and Netweb Technologies India rising by up to 3.3%.

Nvidia's shares also saw a 5% increase in extended trading, as investors digested the news that the company's second-quarter revenue was not as severely impacted as initially feared. The company expects revenue of $45 billion, plus or minus 2%, in the second quarter, compared to analysts' average estimate of $45.90 billion [1].

The US restrictions on chip exports to China have significantly affected Nvidia's sales, with the company expecting to lose out on $8 billion in sales this quarter alone. However, new deals in the Middle East, including a 10-square-mile data center site in the United Arab Emirates, could offer fresh growth opportunities [1].

E2E Networks, which recently deployed India's largest NVIDIA H200 GPU infrastructure, saw its shares rise 3% on May 29. The new GPUs offer industry-leading performance, making them particularly desirable for training and fine-tuning large-scale AI models [1].

References:
[1] https://www.moneycontrol.com/news/business/markets/nvidia-q1-results-impact-anant-raj-netweb-other-data-center-related-stocks-rise-up-to-3-13059396.html