Nvidia adds $28 billion USD in market value
Nvidia’s stock price soared Wednesday after exceeding forecasts in its third-quarter earnings report, indicating that Wall Street’s enthusiasm for generative AI is far from finished.
In early trade, the chipmaker’s stock jumped as much as 2.3% to $501.
This adds nearly $28 billion to the market capitalization, which was $1.2 billion at the closing yesterday. As a result, the stock’s gains were reduced.
Revenue increased 206% to $18.1 billion, above Wall Street expectations of $16.1 billion.
Earnings per share were $4.02, above the $3.39 predicted.
