Nvidia Stock Is Hitting New Highs Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Nvidia Corp (NASDAQ:NVDA) shares surged to new all-time highs after reporting Q4 earnings and revenue that exceeded expectations, along with strong future guidance. The company announced a 265% increase in total revenue, with significant growth in data center and gaming revenues, while automotive revenue slightly declined. CEO Jensen Huang highlighted the impact of accelerated computing and generative AI, predicting that every enterprise will eventually use Nvidia's AI enterprise software.
February 22, 2024 | 1:50 pm
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Nvidia's stock reached new all-time highs following a report of better-than-expected Q4 earnings, a 265% increase in total revenue, and strong future guidance. The company's focus on AI and accelerated computing is driving demand.
Nvidia's significant outperformance in Q4 earnings and revenue, coupled with optimistic future guidance, has positively impacted investor sentiment. The company's strategic focus on AI and accelerated computing, areas of high growth potential, further bolsters confidence in its future performance. The stock's surge to new highs reflects the market's strong response to these developments.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100