Shares of chipmakers and AI-related companies rise on Wall Street after the company’s strong results. This optimism extended to Europe as well.
The actions of the chip makers and companies related to artificial intelligence rise in Wall Street this thursday after nvidia published quarterly results that exceeded the expectations of Wall St.
In Asia, Taiwan Semiconductor Manufacturing Companythe largest semiconductor group on the continent and a key supplier of nvidia, rises 2%, while its price in the United States advances more than 3%. The South Korean SK Hynix Inc which supplies memory chips to Nvidia, also rose 4.2%.
The rally then spread to Europe, where BE Semiconductor Industries, ASML Holding NV and Aixtron SE also rose. Meanwhile, Nvidia’s share price is up 2% on Wall Street.
Good results from Nvidia
Nvidia, a leader in the manufacture of graphics chips, presented its balance sheet and totaled revenues of US$13,507 million against the US$11,220 million estimated by analysts. It also recorded a profit of $2.7 per share, 29% above market forecasts and 400% more than the result for the same period in 2022.
The company has made $13.5 billion in revenue since May, it revealed in its second-quarter 2024 results, with unprecedented demand for its generative AI chips outweighing any difficulty it may have had selling desktop and laptop GPUs. in a shrinking PC industry.
“Revenues, in addition to exceeding the consensus, reflected a 100% growth in relation to the US$6,704 million obtained in 2022, but they also had an exponential growth compared to the first quarter of the year, exceeding what was reported by 88% “, reported Damián Vlassich, Senior Equity Analyst at IOL investoronline.
Source: Ambito
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