Nvidia Shares Surge 20% as 2Q Outlook Blows Past Estimates
25 5월 2023 - 6:35AM
Dow Jones News
By Denny Jacob
Nvidia shares surged 20% to $366.56 in aftermarket trading
Wednesday after its outlook for the second quarter blew past
expectations.
The stock, which closed down 0.5% at $305.38, is trading above
its all-time closing high of $333.76, which took place on Nov. 29,
2021.
The chip giant forecast second-quarter revenue around $11
billion, plus or minus 2%. Analysts polled by FactSet expected
$7.17 billion.
Chief Executive Jensen Huang said accelerated computing and
generative artificial intelligence is propelling two simultaneous
transitions in the computer industry. "We are significantly
increasing our supply to meet surging demand for them," he said,
referring to Nvidia's data center products.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 24, 2023 17:20 ET (21:20 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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