The gain in Nvidia shares following the company’s announcement of record revenue and optimistic expectations drove Thursday’s spike in stock futures.
1.3% gain was seen in S&P 500 futures and 2.1% gain in Nasdaq 100 futures. Also rising by 152 points, or 0.4%, were Dow Jones Industrial Average futures.
When the chip giant revealed an astounding 265% year-over-year sales growth, driven mostly by its growing artificial intelligence business, Nvidia’s shares shot up almost 13% in premarket trade. Surpassing even its own high expectations for significant growth, Nvidia, the fifth-largest business in the United States based on market capitalization, expects to see another strong quarter of sales growth.
Source (CNBC)
