Nvidia, Wall Street and AI
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Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.
Nvidia has grown to become the largest stock on Wall Street and briefly topped $5 trillion in value. That means its stock movements carry more weight on the S&P 500 than any other stock, and it can single-handedly steer the index’s direction some days.
What Happened in Markets Today Nvidia's revenue surged 62% year over year to $57 billion in its fiscal third quarter, with earnings jumping 60% to $1.30 a share. Both were ahead of Wall Street’s expectations,
Nvidia's earnings report is "the last major broad catalyst" for the market until the Federal Open Market Committee meets on Dec. 10 to decide whether or not to cut interest rates, Ryan Lee, senior vice president of product and strategy at Direxion,
Nvidia reported more eye-catching numbers for its fiscal third quarter Wednesday, with net income jumping 65% and revenue increasing 62% from a year earlier
The releases will provide key signals for investors after a significant market pullback.
Strong revenue and “off-the-charts” GPU demand show Nvidia’s AI engine still roaring as CEO Jensen Huang delivers a beat-and-raise quarter
After a strong earnings announcement Wednesday, the CEO said Nvidia’s business will benefit from several long-term tech transitions for the foreseeable future.