Shares of NVIDIA (NASDAQ: NVDA) soared 26% on Thursday.
NVDA now expects revenues will soar 64% this quarter – thanks to the rapid adoption of Artificial Intelligence.
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NVIDIA says $1 trillion is being invested to upgrade datacenters for AI. And the stock is expected to be one of the biggest winners.
I’ve been investing in stocks for the last 33 years. And I’ve never seen a mega-cap stock make a move like this.
NVIDIA was already a huge stock – before the blowout earnings.
The company added $300 billion to its market cap in one day. And the company is now valued at nearly $1 trillion.
That makes this bigger than Berkshire Hathaway (NYSE: BRK-B), Meta Platforms (NASDAQ: FB) and Tesla (NASDAQ: TSLA). NVIDIA is now the sixth most valuable company in the world.
NVIDIA makes graphics processing units or GPUs. These chips are used in datacenters, cars, computers and gaming devices.
There is huge and growing demand for chips to power artificial intelligence.
The company put up decent first quarter earnings. However, even more impressive was the company’s outlook.
NVIDIA says it expects $11 billion in sales during the second quarter – more than 50% above analyst estimates.
That positive outlook shocked investors – and sent the stock price to new all-time highs.
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Here’s CEO Jensen Huang:
“We’re seeing incredible orders to retool the world’s data centers. And so I think you’re seeing the beginning of, call it, a 10-year transition to basically recycle or reclaim the world’s data centers and build it out as accelerated computing.
You’ll have a pretty dramatic shift in the spend of a data center from traditional computing and to accelerate computing with SmartNICs, smart switches, of course GPUs and the workload is going to be predominantly generative AI.”
Artificial Intelligence is changing the world.
It stands to disrupt revolutionize the internet with search, e-commerce and social media. It will change the way we learn and work. And we can only begin to imagine the way the world will change in the next decade.
Microsoft (NASDAQ: MSFT), Google (NASDAQ: GOOG) and NVIDIA (NASDAQ: NVDA) will profit from technology breakthrough.
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