Important
Nvidia stock pumps after earnings beat
- Nvidia stock rallied nearly 9% in after-hours trading on Wednesday, bolstered by the company’s better-than-expected revenue and net income. The US chipmaker generated revenue of $6.05B, vs expectations of $6.00B. Adjusted EPS landed at 88 cents a share, vs 81 cents expected.
- This quarter promises to be even better - Nvidia is betting that the rise of AI tech will drive more sales for its own graphics processors which are capable of running machine learning software. In numbers, Q1 revenue is expected to hit $6.5B, topping the Street estimate of $6.02B.
- Nvidia has been at the forefront of tech’s roaring comeback. Its stock has seen a massive inflow of capital, leading to a 45% rise since the turn of the year. Share price is still some ways away from its all-time high of $330 apiece. Let’s see if the AI buzz will help top that this year.