Nvidia’s stock soars after AI boom pushes chip giant to record earnings and blowout forecast

Nvidia Corp. shares rallied in the extended session Wednesday after the maker of graphics processing units that is leading the AI-hardware charge reported a 141% surge in data-center sales and record results.

Revenue surged to a record $13.51 billion from $6.7 billion in the year-ago quarter, driven by a 141% leap in data-center revenue to $10.32 billion. Right after the report, Lopez Research analyst Maribel Lopez told MarketWatch that Nvidia’s “numbers prove just how much money there is in the AI hardware opportunity.”

Read: Will AI do to Nvidia what the dot-com boom did to Sun Microsystems? Analysts compare current hype to past ones.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of America Corp. stock rises Wednesday, still underperforms marketShares of Bank of America Corp. inched 0.04% higher to $28.45 Wednesday, on what proved to be an all-around great trading session for the stock market, with...
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia's earnings Wednesday will be a big test for AI bullsNvidia reports second-quarter earnings on Wednesday against a backdrop of elevated expectations driven by a surge of interest in artificial intelligence.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia earnings: What Wall Street expects from the AI-chip giantNvidia reports its fiscal second-quarter earnings after the close of markets on Wednesday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock options traders are bracing for larger move than usual after earningsOptions traders are bracing for an outsize swing in Nvidia Corp.'s stock price after the chip giant's earnings report Wednesday afternoon.
Source: MarketWatch - 🏆 3. / 97 Read more »