Arm Holdings Plc (NASDAQ:ARM) shares are trading higher Thursday after Nvidia Corporation (NASDAQ:NVDA) posted blockbuster fourth-quarter earnings after the market close Wednesday.
The Details:
Nvidia reported non-GAAP earnings per share of $5.16, beating the estimate of $4.64 and revenue of $22.1 billion, also beating the Street estimate of $20.62 billion. Revenue in the fourth quarter was up 22% from the third quarter and up 265% year-over-year.
Nvidia issued guidance above estimates due to increasing demand for AI-related technologies across all sectors.
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Nvidia CEO Jensen Huang.
Shares of several semiconductor stocks, including Arm, are trading higher with increased excitement surrounding …
Leave a Reply