The chip manufacturer presented its balance sheet this Wednesday, in which it exceeded market expectations and the shares rebounded strongly in the after market.
The Nvidia stock they fly more than 8% in the after market after the company announced its results for fiscal year 2023 this Wednesday, a record year in which multiplied its net profit by six thanks to the advance of Artificial Intelligence (AI).
The leading chip manufacturing company recorded its best figures due to the growing demand for AI: an accumulated profit of US$29,760 million or 27,508 million euros (581% more compared to US$4,368 million in 2022) and a turnover of US$60,922 million (126% more), according to a statement.
“Accelerated computing and generative AI have reached an inflection point. Demand is increasing around the world across companies, industries and nations”the founder and CEO said in the note, Jensen Huang.
Chipmaker shares rebound 8.2% in it after market after suffering a sharp drop of almost 9% in the last four wheels.
Nvidia entered the top 5 of leading companies by market capitalization
In the last days Nvidia surpassed amazon in market capitalization, amounting to US$1,781,000 million. Over the past 12 months, the chipmaker saw an impressive 230% increase, significantly outpacing the modest 69% increase from amazon in the same period.
Meanwhile, the chip maker’s shares have increased 47.4% so far this year, with the latest increase in the after market. In the last 12 months, the firm’s shares have increased an impressive 253.3%.
Source: Ambito
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