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HomeTrading RoomNasdaq and S&P 500 Rise as a Result of Impressive Nvidia Results

Nasdaq and S&P 500 Rise as a Result of Impressive Nvidia Results

The chip firm Nvidia reported record revenue and gave positive guidance on Thursday, which helped stocks rise.

After the chip maker revealed that its overall revenue increased by an astounding 265% over the previous year, primarily due to its rapidly expanding artificial intelligence division, Nvidia surged more than 12% and reached an all-time high. Even though there were high hopes for tremendous growth, Nvidia, which is now the fifth-largest corporation in the United States based on market capitalization, predicted another outstanding revenue gain for the current quarter.

An incredible surge in Nvidia and other Big Tech stocks over the past year has been driven by enthusiasm about AI. The market as a whole has profited from the chipmaker’s explosive quarter, which may further inspire confidence in the industry.

Source (CNBC)

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