Nvidia stock increases following a modest beat, boosted by AI chips

As the firm reported somewhat better revenue and net income than Wall Street anticipated, despite a year-over-year decline in both categories,

Nvidia stock increased by more than 8% in extended trading on Wednesday. For the quarter ended in January,

the chipmaker performed as expected based on Refinitiv consensus expectations as follows:

Nvidia announced GAAP net income per share of $0.57. In its first quarter, Nvidia projected sales of $6.5 billion,

which was higher than the $6.33 billion predicted by Wall Street. Nvidia has come to be regarded by investors as one of the chip

firms best positioned to withstand a downturn in the economy that hits sales of PCs and semiconductors,

despite the fact that both revenue and earnings were down from last year's $1.32 per share and $7.64 billion in sales.

According to Nvidia's data center business, which sells AI processors, the company may continue to reap significant

benefits from programmes with artificial intelligence like ChatGPT and Microsoft Bing's AI chatbot.

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