Graphics chip giant Nvidia has suffered a share sell-off after providing guidance that points to lower second quarter results than expected.
Shares in Nvidia dived more than nine per cent as the company said it would miss out on US$500 million in revenue (NZ$771.73 million) due to the war in Ukraine, and the Covid-19 lockdowns in China.
A global chip shortage is also blamed for the lowered guidance, along with the crypto currency crash which has led to a drop in graphics card prices.
The company now expects to reap US$8.1 billion in revenue for the second quarter, as opposed to analyst expectations of US$8.44 billion.
For the first quarter, Nvidia beat analysts' forecasts however, increasing revenue in all areas.
Nvidia's data centre business brought in US$3.75 billion, and the gaming division US$3.62 billion, with total revenue hitting US$8.29 billion for the first quarter.
Despite beating analysts' expectations, Nvidia shares are down by over 28 per cent the last quarter, as investors abandon tech stocks.
