According to Coingelegraph, the shares of Nvidia, a computer chip manufacturer, saw a rise of about 10% in after-hours trading. This is expected to take place after the demand for AI chips saw a surge after Q2 earnings that significantly beat Wall Street estimations.
With insights from the Q2 earnings report, the company received about $13.5 billion in revenue for the quarter, which is an 88% rise from Q1. The revenue figure is believed to have come in at over $2 billion more than the $11.2 billion that analysts had predicted earlier.
Insights from data from Google Finance revealed that Nvidia had received about $2.48 earnings per share (EPS), which is supposed to have crossed consensus analyst estimates of $2.08. It is believed that the company’s Q2 EPS rose by 854% year-over-year.
“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” Jensen Huang, founder, CEO, NVIDIA, told Cointelegraph.
(With insights from Cointelegraph)
