Investors will be watching closely, as Nvidia is the third most valuable public company in the world when it releases its fiscal fourth-quarter earnings post-market on Wednesday.
Since the end of 2022, the company’s stock price has increased by an astounding five times, driven by the soaring demand for its graphics processing units, which are essential to the artificial intelligence boom. Notably, Nvidia’s chips—such the H100—are essential for AI programmers to create sophisticated models, like the ones DeepAI used to create ChatGPT.
Nvidia is currently just behind Apple and Microsoft in terms of valuation after surpassing Alphabet and Amazon with a market capitalization of around $1.8 trillion last week.
“NVDA’s stock growth has been meteoric,” Bank of America analysts said in a recent research, highlighting the buy recommendation. They said, “We see this spike in NVDA as a result of a combination of investor demand for AI-related assets, fear, and greed.”
Although Nvidia is the centre of attention right now, other tech titans have already released their quarterly results some weeks ago.
Source (CNBC)
