Nvidia posts revenue up 265% on booming AI business

AI and semiconductor stocks surge after Nvidia’s earnings beat
Spread the love

Positive Performance in Artificial Intelligence and Semiconductor Chip Stocks

Artificial intelligence and semiconductor chip stocks experienced a surge in value subsequent to Nvidia surpassing Wall Street’s expectations for fourth-quarter earnings and revenue. The company also offered optimistic projections for “continued growth” extending into 2025 and beyond.

Taiwan Semiconductor Manufacturing Company (TSMC) Soars

Taiwan Semiconductor Manufacturing Company (TSMC), a key supplier for Nvidia and Apple, witnessed a notable increase of up to 2.05% in Thursday morning trade. As the world’s largest contract chip maker, TSMC plays a crucial role in producing advanced processors for leading tech companies.

Super Micro Computer and ASML Follow Suit

Shares of Super Micro Computer, a supplier of server components, experienced a significant uptick of 11.42% during Wednesday’s after-hours trading. Additionally, ASML, a Dutch chip equipment manufacturer providing essential lithography machines to TSMC, saw a 2.7% increase in U.S. after-hours trading.

Surge in Rival Chip Stocks Following Nvidia’s Earnings Report

After Nvidia’s earnings report, competitors Advanced Micro Devices (AMD) and SoftBank-backed U.K. chip designer Arm Holdings experienced significant increases of 4.08% and 7.87%, respectively, during after-hours trading.

Nvidia’s AI Chip Demand Drives Stock Rise

Nvidia, renowned for its custom-designed AI chips utilized by tech giants like Amazon, Microsoft, and Google, observed soaring demand for its graphics processing units (GPUs) amidst the AI boom. The company’s shares surged by 9% in extended trading.

Memory Chipmakers Gain Amidst AI Expansion

South Korea’s memory chip manufacturers, Samsung Electronics and SK Hynix, saw increases of 0.41% and 3.22%, respectively, on Thursday. The proliferation of large language models such as ChatGPT, reliant on high-performance memory chips for data processing, contributed to this rise.

Taiwanese Semiconductor Firms Experience Growth

Orient Semiconductor Electronics and MediaTek, Taiwanese semiconductor firms, witnessed rises of 2.94% and 1.53%, respectively, on Thursday.

U.S. Chip Makers See Share Price Uptick

Intel, Broadcom, and Qualcomm, prominent U.S. chip makers, observed increases in their share prices during extended trading on Wednesday, surging by 1.38%, 2.79%, and 1.80%, respectively.

Positive Outlook for Nvidia’s Future Growth

Nvidia’s CEO Jensen Huang expressed optimism for continued growth beyond 2025, attributing it to the persistent demand for Nvidia GPUs driven by generative AI and the industry’s transition towards accelerators.

Analysts Predict Positive Surprises for Nvidia

Gene Munster, managing partner of Deepwater Asset Management, anticipates positive surprises from Nvidia, citing potential market share gains and margin improvements during an interview with CNBC’s “Street Signs Asia” on Thursday.

for Similar News: https://initiatemagazine.com

Contact for Ads and Announcements:  +92 3152042287

Email: Contact@initiatemagazine.com


Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *