We guided flat because we’ve -- as you recall, last year we had a number of temporary cost reduction measures in place, which we are restoring, some of which related to wage reductions and so forth that a lot of our employees were carrying, so those tended to offset one another.

And as you see, we guided flat in Q1. I would expect that we would be roughly flat in the first half of the year and we’ll just have to wait and see how revenue shapes up for the second half to give you any further guidance beyond that.

Craig Berger - Friedman, Billings, Ramsay, & Co., Inc.

Let me ask one more question, which is do you think your customers are building inventory, meaning, is any of the revenue strength you guys are seeing temporary inventory build and does that hamper second half revenue seasonality? Thank you so much.

David L. White

If you look at our channel inventory, which is where we sell a lot of our, the vast majority of our desktop GeForce business, that channel inventory has been roughly stable throughout the year. It’s been teetering in the three to four-week range.

We had a one-week uptick in that in the fourth quarter which is probably the first sign we’ve seen of any uptick of channel inventory now this year. But we still consider that pretty modest, certainly well below where it’s been historically and as a result of even those low levels we continue to have stock-out situations, which we try to obviously avoid.

So right now, we don’t, I don’t think we’ve got really any indicators that would tell us that we’ve got an inventory build going on either in the channel or even at the OEM companies that we sell to. So at some point we know that supply will catch up with demand and I think we just have to be very alert to make sure that we see the early indicators of that and respond as early as we can.

Craig Berger - Friedman, Billings, Ramsay, & Co., Inc.

Thank you very much.

Jen-Hsun Huang

At the highest levels, let me just make a comment on top of that everything David said was right. At the highest level, the last couple of years we’ve invested in R&D pretty aggressively and we invested in R&D so that we could drive our topline growth and so if there’s anything at all.

We -- and because as we go into this year, we have so many new products, whether it’s Tegra or the Fermi architecture or the Tesla product line or some exciting new products that we’re planning for Quadro, all of these opportunities are a result of the R&D investment that we’ve made. And so if there’s anything at all, we would just love to have the supply to support the growth and so we’re looking forward to that.

Craig Berger - Friedman, Billings, Ramsay, & Co., Inc.

Thank you.

Operator

Our next question comes from the line of Daniel Berenbaum with Auriga SA. Please proceed with your question.

Daniel Berenbaum - Auriga USA

Hi. Good afternoon. Thanks for taking the call. Jen you know, I wanted to make sure I understand the comment that you made earlier, when you were talking about the supply constraints. You’re saying that the order of the supply constraints, you -- if you didn’t have the supply constraints you could have done another couple $100 million in revenue.

First question, did I hear that correctly? And second of all, can you help us understand a little bit, is that really just focused in GPU where you could have had that extra revenue? And can you help give us any color on who’s not getting parts? Is it notebook is it the channel? Can you give us a little bit of granularity there, if I did understand that correctly?