Nvidia Stock Surges After Earnings Exceed Expectations From AI Demand

Chipmaker Nvidia exceeded earnings expectations as a result of surging computer chip demand for artificial intelligence programs. In a report released this week, Nvidia posted 101% year-over-year sales growth and $13.5 billion in revenue the previous quarter, beating the $11.2 billion in revenue expected by analysts. The report sparked a spike in Nvidia’s stock Wednesday evening, hitting a record high of $502.66. Following this, Nvidia announced a $25 billion stock buyback.

attributed to stockholders taking profits and a general worry that Federal Reserve Chair Jerome Powell’s speech Friday will disrupt the market. Nvidia CEO Jensen Huang released a statement reading, “A new computing era has begun. The industry is simultaneously going through two platform transitions: accelerated computing and generative AI. Data centers are making a platform shift from general purpose to accelerated computing.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Stock market today: Asian shares are mixed ahead of Fed Chair speech and Nvidia earningsAsian markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Sumber: AP - 🏆 728. / 51 Baca lebih lajut »

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.
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

Nvidia stock rises ahead of results, AMC shares slump and other stocks on the move.Nvidia, Novavax and AMC Entertainment are among the stocks in the spotlight.
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »