Nvidia Stock Surges 14% in Pre-market Trading Following Strong AI-driven Earnings Report
Nvidia rose more than 14% in premarket trading Thursday after the company reported results that beat Wall Street expectations.
The American technology company’s revenue in the fourth quarter reached 22.1 billion US dollars, an increase of 265% compared to the previous year. Revenue rose 769%, primarily due to continued interest in AI technology.
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Nvidia’s chips play a key role in training large-scale AI models, including those developed by tech companies like Microsoft
Department The company remains optimistic about its growth and forecasts revenue for 2019 . quarter. $24 billion is better than analysts’ expectations.
CEO Jensen Huang expressed his confidence in Nvidia’s future vision in his meeting with analysts, stating that there are suitable conditions for growth to continue beyond 2025, adding that consumers’ confidence in the products has strengthened.
H100 used in cognitive training Driven by demand for graphics cards, Nvidia’s data center recorded sales of $18.4 billion in the fourth quarter, up 409% from years ago.
Nvidia’s approval caused many brokerage firms to increase their ratings on the stock. JPMorgan raised its target to $850 from $650, while Bank of America Global Research raised its target to $925 from $800.
By Anxious Nvidia shares closed at $674.72 on Thursday as traders took profits and investors expressed concern about the issue. The company’s ability to meet high expectations. However, the profits the company earns from the company both eliminate these concerns and support other international products in the market.
