Nvidia's Q1 Earnings Soar, AI Chip Hype Builds

Nvidia shares surged over seven percent in after-hours trading following their fiscal first-quarter earnings report, which exceeded financial expectations and projected robust growth. The company reported revenue of $26.04 billion, higher than the anticipated $24.65 billion, and adjusted earnings per share of $6.12, exceeding the forecasted $5.59. Nvidias revenue guidance for the next quarter is set at $28 billion, surpassing the predicted $26.8 billion. Despite concerns about sustainability, Nvidias CEO, Jensen Huang, expressed confidence in the companys future, highlighting the widespread demand for their chips, particularly within the data center segment, which includes their powerful AI processors. The companys next-generation Blackwell AI chip, expected to begin shipping in the second quarter, further bolsters their position and potential for continued expansion.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.