KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Quick Summary
Nvidia guides Q1 sales at US$78 billion, above consensus
Shares fell ~1% despite strong numbers
China revenue excluded from outlook
AI spending sustainability still questioned
Upbeat Forecast, Lukewarm Reaction
Nvidia Corp projected fiscal Q1 revenue of US$78 billion, beating Wall Street’s average estimate of US$72.8 billion.
However, some bullish analysts had expected numbers closer to US$80 billion — and the stock slipped about 1% after the announcement.
Key point: Nvidia is still growing fast — but expectations are even higher.
Q4 Results Still Massive
For the quarter ended Jan 25:
Revenue surged 73% to US$68.1 billion
EPS: US$1.62 (vs US$1.53 expected)
Adjusted gross margin: 75.2%
Data-centre revenue: US$62.3 billion (above estimates)
Nvidia remains the dominant supplier of AI accelerator chips powering global data centres.
China: Still a Big Unknown
The company:
Excluded China data-centre revenue from Q1 guidance
Received US approval to ship “small amounts” of H200 chips
Faces 25% tariff on certain imports
Nvidia acknowledged it has not yet generated revenue under the new H200 licence.
China remains a geopolitical overhang on the stock.
AI Spending Debate Continues
CEO Jensen Huang maintains AI demand is structural, not cyclical:
“Customers are racing to invest in AI compute — the factories powering the AI industrial revolution.”
But concerns persist that:
AI capital spending may be peaking
Memory chip shortages could pressure supply
Large AI megadeals may reflect circular commitments
Segment Breakdown
Data Centre: US$62.3b (strongest driver)
Gaming: US$3.73b (below expectations)
Automotive: US$604m (missed estimates)
Meta has committed to deploying millions of Nvidia chips, while rival Advanced Micro Devices has secured similar AI capacity deals.
Why Investors Are Harder to Impress
After becoming the world’s most valuable company during the AI boom, Nvidia now faces:
Lofty valuation
Elevated expectations
Growing scrutiny of AI demand sustainability
Even strong beats are no longer enough — the market wants acceleration, not just growth.
Bottom Line
Nvidia continues to post extraordinary growth, but investors are signalling that the bar is extremely high.
With China uncertainty and AI spending debates in focus, the stock’s next move will likely depend on whether demand proves durable — not just explosive.
Key Takeaways
Q1 forecast beats consensus but disappoints bulls
China revenue excluded from guidance
AI megadeals continue
Market demands sustained momentum
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