Reported 5 months ago
Nvidia's stock surged by 9%, surpassing $1,000 following an earnings beat that exceeded forecasts. The company reported a first-quarter revenue of $26 billion, up by 262% from the previous year, leading to a market cap over $2.5 trillion. Nvidia also announced a 10-for-1 stock split and a dividend increase, with expectations for a revenue of $28 billion in the current quarter. Despite concerns about Data Center revenue from hyperscalers, Nvidia's CEO highlighted strong demand for AI training and inference. JPMorgan raised its price target on Nvidia stock to $1,150, emphasizing the company's competitive edge.
Source: YAHOO