{"id":61343,"date":"2024-05-23T19:36:25","date_gmt":"2024-05-23T19:36:25","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/nvidia-shares-soar-12-to-all-time-high-after-reporting-record-quarterly-revenues"},"modified":"2024-05-23T20:33:21","modified_gmt":"2024-05-23T20:33:21","slug":"nvidia-shares-soar-12-to-all-time-high-after-reporting-record-quarterly-revenues","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/nvidia-shares-soar-12-to-all-time-high-after-reporting-record-quarterly-revenues","title":{"rendered":"Nvidia shares soar 12% to all-time high after reporting record quarterly revenues"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Nvidia saw its shares soar almost 12% on Thursday after the US-based chipmaker posted record quarterly revenues due to rising demand for artificial intelligence (AI).<\/p>\n

The California-based company’s stock price was trading at an all-time high of $1,061.57 at 1.34 p.m. EDT — a daily gain of 11.8%, after closing the previous day at 949.50.<\/p>\n

The rally came after Nvidia posted record revenue of $26 billion in the first quarter that ended April 28 — up 262% from almost $7.2 billion in the same period last year, according to a financial results statement released late Wednesday.<\/p>\n

The company also said it saw record quarterly data center revenue of $22.6 billion, which soared 427% from the same period in 2023.<\/p>\n

Net income, meanwhile, soared a massive 628% to almost $14.9 billion in the first quarter from approximately $2 billion in the same period last year.<\/p>\n

The record financial results came as demand for AI is booming globally and Nvidia is increasing collaborations with major tech companies.<\/p>\n

Nvidia announced Tuesday new AI performance optimizations and integrations for Microsoft’s Windows operating system that help deliver maximum performance.<\/p>\n

Nvidia’s market value topped $2 trillion on Feb. 23, surpassing Amazon and Alphabet, Google\u2019s parent company, to become the third-most valuable publicly traded company in the US.<\/p>\n

Its market value stood at $2.61 trillion on Thursday at 1.34 p.m. EDT, behind Apple at $2.89 trillion and Microsoft with $3.19 trillion.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Nvidia saw its shares soar almost 12% on Thursday after the US-based chipmaker posted record quarterly revenues due to rising demand for artificial intelligence (AI). The California-based company’s stock price was trading at an all-time high of $1,061.57 at 1.34 p.m. EDT — a daily gain of 11.8%, after closing the previous […]<\/p>\n","protected":false},"author":84,"featured_media":61342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,281,2983,283,4278,639,4346,2998],"class_list":["post-61343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-mozambique","tag-market-value","tag-mozambique","tag-nvidia","tag-record","tag-revenues","tag-stock-price"],"yoast_head":"\nNvidia shares soar 12% to all-time high after reporting record quarterly revenues - Mozambique<\/title>\n<meta name=\"description\" content=\"Nvidia saw its shares soar almost 12% on Thursday after the US-based chipmaker posted record quarterly revenues due to r ...\" 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