NVIDIA expects 70% sales jump next fiscal year, shares surge
Business
NVIDIA just announced it expects a massive 70% jump in sales next fiscal year, way higher than what analysts were guessing.
That bold prediction sent its stock up 8.7% on Thursday, boosting NVIDIA's market value by $442 billion in a single day.
NVIDIA posts $96.2B revenue from AI
For NVIDIA's second-quarter earnings report, NVIDIA pulled in $96.2 billion in revenue (crushing expectations), mostly thanks to sky-high demand for its AI chips like the new Vera Rubin series.
Big names like Amazon and Google fueled growth in their data center division, which made up most of that revenue.
Even with rising memory costs and tough competition from rivals, NVIDIA has beaten analyst estimates for 16 quarters straight, showing just how strong their grip is on the AI chip game.