AI drives 23.9% rise in NVIDIA stock
A stronger-than-expected forecast and a Q1 earnings beat helped gaming chip specialist NVIDIA lead the gainers all-sessions on the IG platform.
It reported adjusted earnings per share of $1.09 versus $0.92 expected, on revenues of $7.19 billion, far higher than the $6.52 billion forecast. However, as IGTV’s Jeremy Naylor explains it was all about its artificial intelligence business. AI investments will keep NVIDIA ahead of its semiconductor rivals, according to the company. NVIDIA said it expected about $11 billion in the current quarter, plus or minus 2%, far surpassing forecasts of $1.06 per share on $7.15 billion in sales.
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