‘Another blowout quarter’ - Wall Street reacts to bumper Nvidia results
The US chipmaker is at the forefront of the AI revolution and well-placed to take advantage of what it described as ‘surging demand’
Nvidia, the world’s most valuable chipmaker, on Wednesday reported revenue for the current period of about $24 billion, outstripping analysts’ expectations.
Jensen Huang, Nvidia chief executive, said generative AI had reached a “tipping point” and heralded “surging” worldwide demand across a range of companies, industries and nations.
Analysts across Wall Street greeted the results. Here’s what they had to say:
Kim Forrest, the chief investment officer of Bokeh Capital Partners LLC:
Nvidia has been the driver of the market for the past 11 months, as goes Nvidia, so goes the market. And it looks like the results are good enough - not a huge positive or a negative surprise. It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?
