NVIDIA Stock Soars on Strong Q2 Earnings and Optimistic Outlook

The article discusses NVIDIA’s impressive second-quarter earnings report and its positive outlook for the future. Key points include: NVIDIA’s revenue surged 101% year-over-year to $13.51 billion, surpassing analysts’ expectations. The company’s data center business saw a 141% revenue increase, driven by robust demand for AI chips. NVIDIA’s gaming revenue also grew 51% due to strong sales of high-end GPUs. The company’s CEO, Jensen Huang, expressed optimism about the future, stating that AI will drive the next wave of computing and NVIDIA is well-positioned to capitalize on this trend. NVIDIA’s stock price soared over 8% in after-hours trading following the earnings release. The company raised its revenue guidance for the third quarter, expecting continued strong demand across all its market platforms. Analysts praised NVIDIA’s execution and its leadership in the AI chip market.

Source: https://markets.businessinsider.com/news/stocks/nvidia-stock-price-q2-earnings-results-nvda-outlook-jensen-huang-2024-8