Nvidia delivers on AI hype by igniting US$140bil stock rally

The big question heading into the earnings report was whether Nvidia’s latest numbers could justify the dizzying run-up in its stock. — Reuters

NVIDIA Corp, the chipmaker at the centre of an artificial intelligence (AI) boom, gained in late trading after a bullish sales forecast showed that AI computing spending remains strong.

Second-quarter revenue will be about US$28bil, topping the US$26.8bil predicted by analysts. Results in the fiscal first quarter, which ended April 28, also beat projections – lifted by growth in Nvidia’s data-centre division.