AI Mania Resumes, With Nvidia Outlook Saving Broader Market
Feb 22, 2024 - bloomberg.com
Nvidia Corp., the AI chip-making company, has delivered a strong sales forecast that has re-energized the artificial intelligence mania that drove last year's stock-market rally. The company's shares surged post-market after the earnings report, leading to gains in index futures and rallies in global peers and suppliers.
The positive forecast from Nvidia came as a relief to equity investors on a day when almost all trading seemed to be a prelude to the company's earnings report. The robust sales forecast from Nvidia, a darling of the AI industry, has reinvigorated the market and spurred gains in its shares.
Key takeaways:
Nvidia Corp.'s earnings report delivered a robust sales forecast.
The positive report reinvigorated the artificial-intelligence mania behind last year’s stock-market rally.
Nvidia's shares surged, spurring gains in index futures and rallies in global peers and suppliers.
The report was highly anticipated and its release was seen as a significant event in the trading day.
