AI chip leader Nvidia topped even Wall Street's elevated "whisper numbers" with its fiscal first quarter results and guidance.
All three major indexes closed in negative territory after giving back morning gains. Nvidia stock rallied following a strong earnings report and was the biggest gainer on the S&P 500 Thursday.
On Wednesday, Nvidia Corporation (NASDAQ: NVDA) reported its fiscal first quarter results, surpassing both top and bottom-line estimates as demand for AI chips remains as robust as ever. Nvidia sales continue to skyrocket as Google, Microsoft Corporation (NASDAQ: MSFT), Meta Platforms (NASDAQ: META), Amazon.com Inc (NASDAQ: AMZN) and Microsoft-backed OpenAI spend billions of dollars to buy its graphics processing units to develop and deploy generative AI applications. During extended trading on