Key takeaways
- Chip manufacturer Nvidia smashed Q1 earnings expectations and has massively upgraded its Q2 target revenue to $11 billion
- Stock soared to highs of +26% in a day, breaking the intraday record and sparking an AI stocks surge
- Not everyone benefited – Intel and Amazon were both down
Microsoft and Google aren’t the biggest winners from the AI wars so far. The real company on top is chip manufacturer Nvidia, who has worked tirelessly over the last decade to develop AI-focused chips that excel at parallel processing and software for some of the companies driving generative AI innovation – and it’s more than paid off so far.
Investors were left stunned at Nvidia’s earnings report, which smashed every expectation and its forecasts for Q2 sent not only its own stock soaring, but a number of other companies were able to bask in Nvidia’s sunshine. Here’s the latest on the Nvidia earnings report and who the biggest winners – and losers – were off the back of it.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.