NVIDIA has updated its Q4 2019 financial guidance where it lowered its Q4 2019 revenue from $2.7 billion to $2.2 billion. This is due to slowdowns in both the Gaming and Datacenter sectors. NVIDIA admits that higher prices for high-end Turing GPUs has negatively affected sales as "macroeconomic conditions, particularly in China, impacted consumer demand for NVIDIA gaming GPUs." Also a dearth of software to showcase Turing RTX features such as DLSS, real-time ray tracing, and its AI capabilities has greatly affected sales. NVIDIA was unable to close on a number of Datacenter business deals due to its customers taking a more cautious approach. NVIDIA acknowledges that this update is an estimate and does not include all of the necessary information for an understanding of NVIDIA's financial condition at this time. NVIDIA expects its GAAP and non-GAAP gross margin to be impacted by approximately $120 million in charges for excess DRAM and other components associated with the updated revenue guidance and current market conditions. NVIDIA will conduct a conference call with analysts and investors to discuss its fourth quarter and fiscal year 2019 financial results and financial prospects on Feb. 14, 2019, at 2:30 p.m. Pacific time (5:30 p.m. Eastern time). NVIDIA faces a lawsuit for allegedly making false and misleading statements about the cryptocurrency market to investors. "Q4 was an extraordinary, unusually turbulent, and disappointing quarter," said Jensen Huang, founder and CEO of NVIDIA. "Looking forward, we are confident in our strategies and growth drivers. "The foundation of our business is strong and more evident than ever - the accelerated computing model NVIDIA pioneered is the best path forward to serve the world's insatiable computing needs. The markets we are creating - gaming, design, HPC, AI and autonomous vehicles - are important, growing and will be very large. We have excellent strategic positions in all of them," he said.