Nvidia, AI
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Nvidia’s third-quarter earnings beat initially alleviated AI-bubble fears, but tech stocks slipped as markets digested economic data.
Nvidia has soothed worries about AI demand for now, and dispelled fears of a bubble bursting. Investors piled into tech and AI names after its Q3 results.
Nvidia shares were initially up after an earnings report that included raised revenue guidance for the next quarter. But shares closed 3% lower.
The rise of artificial intelligence was a “once-in-a-lifetime opportunity,” she said, and the company had to put AI at the center of its entire product line. Three years later, the Santa Clara, Calif.
So, today, in the wake of Nvidia's earnings report, investors may breathe a sigh of relief as Huang offers evidence that the top AI stock isn't in a bubble -- and instead could continue to deliver growth well into the future as the AI boom evolves.
Prosecutors have accused Brian Raymond, founder of AI infrastructure and consulting company Bitworks, and three others of selling coveted Nvidia chips to unspecified Chinese companies.
Has the artificial-intelligence hype gotten out of control? Perhaps the opposite is true, according to a Cantor Fitzgerald analyst. "Obviously, market concerns regarding financing the current AI infrastructure \[boom\] remain,
Nvidia reported more eye-catching numbers for its fiscal third quarter Wednesday, with net income jumping 65% and revenue increasing 62% from a year earlier.
Analysts say Nvidia's blockbuster earnings show the AI boom is still accelerating and that fears of an AI bubble are overstated.
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