Nvidia stock stock slips even after earnings top Wall Street estimates and demand for AI chips surge

LOS ANGELES — Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.

By comparison, S&P 500 companies overall are expected to deliver just 5% growth in revenue for the quarter, according to FactSet.Nvidia has led the artificial intelligence sector to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company's chips and data centers needed to train and operate their AI systems.

Demand for generative AI products that can compose documents, make images and serve as personal assistants has fueled sales of Nvidia’s specialized chips over the last year. In June, Nvidia briefly rose to become the most valuable company in the S&P 500. The company is now worth over $3 trillion.

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 stock slips ahead of earnings release as Wall Street reiterates bullish outlookNvidia stock is getting more Wall Street backing ahead of the company's crucial earnings report set for next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street hovers around records ahead of Nvidia earnings and inflation dataNEW YORK (AP) — Wall Street is hovering around record highs at the start of a week featuring another full slate of corporate earnings and the government’s...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street quiet as markets await Nvidia's latest earnings reportNEW YORK (AP) — Stocks are mostly unchanged in light trading as investors look ahead to an eagerly anticipated earnings report from the semiconductor company Nvidia, whose chips power AI applications. The S&P 500 slipped 0.
Source: SooToday - 🏆 8. / 85 Read more »

Wall Street eyes Nvidia results, SMCI stock tumbles: Yahoo FinanceNvidia (NVDA) will report its second quarter results this afternoon. The stock's rally has been driving the market gains, so Wall Street will closely watch...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »