Technology companies like Microsoft and Meta Platforms have reached historic highs due to the excitement for artificial intelligence. Wall Street is eagerly awaiting Nvidia's quarterly report, with expectations of good results and an optimistic outlook. However, any deviation from high expectations could lead to a significant sell-off. Analysts expect Nvidia's Q1 revenue to triple to $20.37 billion and adjusted net profit to rise over 400% to $11.38 billion. Nvidia's 13F filing with the US Securities and Exchange Commission revealed strategic investments in Arm Holdings, SoundHound AI, and Recursion Pharmaceuticals.
Key takeaways:
- Nvidia has surpassed Google-parent Alphabet to become the third most valuable U.S. company, with its shares rising 2.46% to $1.825 trillion.
- Nvidia's stock price has increased by 47% this year, and it now controls 80% of the high-end AI processor industry.
- Analysts expect Nvidia's Q1 revenue to treble to $20.37 billion and adjusted net profit to rise over 400% to $11.38 billion, driven by strong demand for its server AI processors.
- Nvidia's 13F filing with the US Securities and Exchange Commission revealed strategic investments in Arm Holdings, SoundHound AI, and Recursion Pharmaceuticals.