Artificial intelligence chipmaker Nvidia reported fourth-quarter earnings and revenue that substantially beat Wall Street expectations, fueling a rally in after-hours trading. The company posted earnings of $1.62 per share on $68.1 billion in revenue, driven by massive demand for its AI processors.
The results far exceeded analyst forecasts of $1.53 per share and $65.7 billion in revenue. Nvidia also issued a strong revenue forecast for the upcoming quarter, suggesting that the boom in AI infrastructure spending remains robust. As a bellwether for the artificial intelligence industry, the strong performance provided a significant boost to sentiment across the technology sector and the broader market.
Market Impact: In after-hours trading, Nasdaq Futures (NQ) surged +1.73% and S&P 500 Futures (ES) jumped +1.04%.