Artificial-intelligence and chip-maker stocks jumped in after-hours trading on Wednesday after Nvidia (NASDAQ:NVDA) posted blowout third-quarter results, fueling renewed investor optimism in the AI hardware boom.
Nvidia reported $57 billion in revenue, up about 62% year-on-year, driven by $51.2 billion from its data-center business. It forecast fourth-quarter sales of $65 billion, well above analyst estimates.
CEO Jensen Huang said demand for its “Blackwell” chips is “off the charts.” The stock surged more than 5% in after-hours trading as of 19:15 ET. With every quarter that goes by, Nvidia earnings become more important in terms of clarification on where AI is moving and how much spending is being done,” said Brian Stutland, chief investment officer of Nvidia investor Equity Armor Investments.
Notwithstanding bubble fears, demand for Nvidia’s chips remains strong, with cloud giants including Microsoft (MSFT.O), opens new tab investing billions in AI data centers.
Advertisement · Scroll to continue.Amazon ( AMZN )
is set to raise $15 billion from its first U.S. dollar bond offering in three years, according to a filing with the Securities and Exchange Commission on Monday.
On Tuesday Bank of America’s monthly fund manager survey found a record share of investors think
companies are “overinvesting”
, a sign spending by hyperscalers may need to slow down.
