Nvidia Corp on Wednesday forecast second-quarter revenue more than 50% above Wall Street estimates, and said it is boosting supply to meet surging demand for its artificial-intelligence chips, which are used to power ChatGPT and many similar services. Updated ago The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. REUTERS/Robert Galbraith May 24 (Reuters) – Nvidia Corp (NVDA.
O) on Wednesday forecast second-quarter revenue more than 50% above Wall Street estimates, and said it is boosting supply to meet surging demand for its artificial-intelligence chips, which are used to power ChatGPT and many similar services.
Shares of Nvidia, the world’s most valuable listed semiconductor company, rocketed as much as 28% after the bell to trade at $391.50, a record high. The gain increased Nvidia’s stock market value by about $200 billion to over $950 billion, extending the Silicon Valley company’s lead as the world’s most valuable chipmaker and Wall Street’s fifth-most-valuable company.
Reuters Graphics (TSLA.O) Chief Executive Officer Elon Musk, who is reportedly building out an artificial-intelligence startup, earlier this week telling an interviewer that the graphics processing units (GPUs) are “considerably harder to get than drugs.” headtopics.com
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