Nvidia Earnings Were a Big Deal. Just Not for the Reason Everyone Thinks.

There were two significant developments in the tech world this week that could go a long way to defining the coming year for stocks: Nvidia’s blockbuster earnings and Arm Holding’s IPO filing.

“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” Nvidia CEO Jensen Huang said in the company’s earnings statement. “The race is on to adopt generative AI.” That’s a problem for the rest of the industry. Nvidia’s gain may be other companies’ pain. The latest surveys of chief information officers reveal that technology buyers aren’t expanding their overall budgets to accommodate the increased AI spending, but rather taking dollars from other buckets.

That’s why Arm Holdings’ IPO filing this past week could be a big moment. When it goes public, the listing is likely to be the biggest tech debut in a long time.

Canada Canada Latest News, Canada Canada Headlines

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

Nvidia Q2 Earnings Results: NVDA pops to $515 on significant beat on earnings, revenueNvidia (NVDA) stock popped nearly 10% late Wednesday after walloping second-quarter consensus by a wide margin. The leading semiconductor designer rep
Source: FXStreetNews - 🏆 14. / 72 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 shares set to open at record high after big earnings beatThe AI darling has seen demand for its powerful GPU chips surge over the last year and projects that demand will continue through next year.
Source: nbcchicago - 🏆 545. / 51 Read more »

European stocks higher; PMIs mixed, Nvidia earnings due later By Investing.comEuropean stocks higher; PMIs mixed, Nvidia earnings due later
Source: Investingcom - 🏆 450. / 53 Read more »

Nvidia Stock Sold By Cathie Wood Ahead of Earnings, Buys More Zoom SharesThe investor's ARK Innovation Fund dumped the stock in January, missing out on most of the chip maker's meteoric 212% rise so far in 2023.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia Earnings Will Gauge Strength of AI BoomExpectations are lofty, but concerns about China and the supply chain remain.
Source: WSJ - 🏆 98. / 63 Read more »