Nvidia shares fall on slowing growth and production concerns

Doubling of quarterly revenues to 23bn fails to allay worry about delays to next generation of AI chips

Shares in the chip designer Nvidia have fallen after investors were spooked by signs of slowing growth and production issues, despite the artificial intelligence company posting a 122% rise in second-quarter revenues compared with the same period last year.

The Silicon Valley company's revenues for the period more than doubled to $30bn (23bn), beating average analyst estimates of $28.7bn. However, investors were concerned about signs of a slowdown in growth, in particular around its next-generation AI chips, codenamed Blackwell.