S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

The post Nasdaq Futures Up 2% Following Blowout Nvidia Earnings appeared first on theprimarymarket.com.

Investors are on edge due to the high expectations held for Nvidia’s earnings, particularly on the back of its artificial intelligence developments. Given Nvidia’s major influence over the market, any disappointment in the report could shift stocks downward at large.

Markets are also bracing for the release of the minutes from the Federal Reserve’s January meeting in an effort to gauge the trajectory of the central bank’s interest rate policy. Currently, investors appear to be gravitating toward the belief that the Fed will introduce interest rate cuts in June; a long way off from previous expectations of a rate cut as early as March.

The post U.S. Futures Fall Ahead Of Nvidia Earnings appeared first on theprimarymarket.com.

Data center revenue for the chipmaker came in at $10.3 billion while its gaming revenue hit $2.5 billion, beating estimates of $8 billion and $2.4 billion respectively. The company released a current quarter revenue guidance of $16 billion, plus or minus 2%, exceeding analysts’ expectations of $12.5 billion.

Nvidia’s recent surge came during the heat of the AI hype, with the chipmaker largely leading the charge. “A new computing era has begun,” CEO Jensen Huang stated following the earnings release. “Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

The post Nvidia Stock Surges Following Quarterly Report appeared first on theprimarymarket.com.

Nvidia is expected to benefit from increased demands for their chips that were caused by the Artificial Intelligence race. Both high-profile companies and smaller developers are relying on Nvidia chips to power their AI platforms.

In the first quarter, Nvidia blew past analysts’ expectations, reporting $7.2 billion in revenue compared to an estimated $6.5 billion. It also raised its forecast for Q2, saying it expects revenue of $11 billion, while analysts predicted $7.3 billion.

The same outcome is expected in Q2, considering that the company was able to increase its margins thanks to the high demand.

“I anticipate that the results are going to look really outstanding because demand is so high, and that means Nvidia is able to command even higher margins than it would otherwise,” Forrester analyst Glenn O’Donnell told Yahoo Finance.

Most analysts raised the target price for Nvidia’s stock in recent days. UBS analysts have now set the target price from $475 to $540, while Baird’s analysts went even further, increasing the target price to $570 compared to the previous $475.

Nvidia’s stock opened at $404.98 per share on Monday morning but has climbed all the way to $439.04 through Wednesday. The company’s shares are 206.70% up year-to-date.

The post Nvidia Stock Continues to Climb As Q2 Earnings Are Expected to Outperform Estimates appeared first on theprimarymarket.com.

This market uptick comes as investors brace themselves to digest the July retail sales report as well as a slew of earnings from the United States’ premium Big Box stores, including Walmart, Target, and Home Depot.

Markets also await the minutes of the Federal Reserve’s last policy meeting, due to be released on Wednesday. With the central bank choosing to resume its interest rate hiking agenda, analysts will hope to find clues on the Federal Reserve’s next moves regarding its fiscal policy when it reconvenes in September.

Home Depot is set to release its earnings during premarket trading on Tuesday, while Target will report its earnings on Wednesday and Walmart will announce its results on Thursday.

The post U.S. Stocks Up Amid Nvidia Surge appeared first on theprimarymarket.com.

The company’s growth has been fuelled by the ongoing AI boom, with the company developing a range of high-powered graphics cards and server products in a bid to edge out competitors. On Monday, Nvidia announced the development of a new supercomputer to support its surging AI demand as well as a platform that will utilize AI in video game development.

Since the start of the year, Nvidia’s stock has skyrocketed by 165%. This includes a 26% rise last Thursday after the company announced strong quarterly results that beat analysts’ estimates.

Following the release of its quarterly results, Nvidia rose its second-quarter outlook and now expects revenue of $11 billion, exceeding Wall Street estimates of $7.2 billion.

“There’s a war going on out there in AI, and Nvidia today is the only arms dealer out there,” Raymond James managing director Srini Pajjuri stated in a note to investors. “So as a result we’re seeing this huge jump in revenues.”

The post Nvidia Hits $1 Trillion Market Cap Amid AI Boom appeared first on theprimarymarket.com.

The supercomputer, called Israel-1, is expected to be one of the world’s fastest supercomputers, delivering a performance of up to eight exaflops of AI computing. One exaflop is capable of performing 1 quintillion (1,000,000,000,000,000,000) calculations per second.

Gilad Shainer, a senior vice president at Nvidia, explained that the company has worked with 800 startups in Israel. The supercomputer was designed by the former Mellanox team; the Israeli chip designing company that Nvidia acquired in 2019 for nearly $7 billion, outbidding Intel Corp.

“Generative AI is going everywhere nowadays. You need to be able to run training on large datasets,” Shainer told reporters. “This system is a large scale system that actually will enable them to do training much quicker, to build frameworks and build solutions that can tackle more complex problems.”

Outside of the Israeli supercomputer, Nvidia revealed that it is working with Britain’s University of Bristol to build an advanced supercomputer to compete with competitors Intel and Advanced Micro Devices Inc.

The post Nvidia to Build Supercomputer to Meet Surging AI Demand appeared first on theprimarymarket.com.

The S&P 500 edged 0.88% higher, while the tech-heavy Nasdaq Composite index spiked 1.71%. In contrast, the Dow Jones Industrial Average ended the day’s trading 0.11% lower.

Nvidia, which has catapulted into a poll position in the artificial intelligence race, released an $11 billion second-quarter revenue projection, significantly exceeding analysts’ $7.2 billion projection as released by Bloomberg. Nvidia’s rally was followed by fellow AI-heavy stocks Alphabet and Microsoft, whose shares advanced approximately 2% and 4% respectively.

“In 22 years of covering tech stocks and large-cap we have never seen a guidance range of this magnitude on a large cap tech name,” Wedbush managing director Dan Ives observed. “And thus speaks to our thesis that the monetization of AI for stalwarts like Microsoft, Alphabet, Amazon, Oracle, Meta, Apple, and Salesforce is well underway.”

The newfound tech rally helped to subdue investor concerns regarding the stalling U.S. debt ceiling talks. Also on investors’ and economists’ radars were the quarterly GDP reading, which showed 1.3% U.S. economic growth in Q1, and the weekly jobless claims report, which showed a lower-than-expected 229,000 claims filed for the period.

The post Nvidia Stock Drives Tech Rally on Thursday appeared first on theprimarymarket.com.

The report stated that the U.S. share of chip design revenue has dropped from over 50% in 2015 to 46% in 2021. According to the report, this figure could slump below 36% by the end of the decade without sufficient support from the government. This comes after the U.S. has already lost its lead in chip manufacturing to China.

Following the loss of its poll position as the world’s leading chip manufacturer, the U.S. government passed the CHIPS and Science Act this year in an effort to restore its lead. This initiative includes $39 billion in manufacturing grants and $13 billion for R&D activities.

Among the United States’ leading chip designers are Nvidia, Intel, and Qualcomm. While Intel Corp designs and manufactures chips in-house, Nvidia Corp and Qualcomm Inc handle the design while outsourcing production to foreign companies, including the likes of Taiwan Semiconductor Manufacturing Co.

Government support is also listed by the report as a significant driver of market share growth for China and South Korea.

The post Report: U.S. Chip Design Market to Stumble Without Government Support appeared first on theprimarymarket.com.

Nvidia’s $6.7 billion Q2 revenue matched the $6.7 billion expected, but its adjusted earnings per share missed on $0.53 estimated and came to $0.51. The Santa Clara, California-based company also had a net income of $656 million, representing a 72% year-over-year decrease.

For the third quarter of the year, Nvidia predicts that it will bring in $5.9 billion in revenue, falling $1 billion short of the $6.9 billion predicted by analysts. The biggest reason for Nvidia’s poor results and bleak expectations has been slumping sales in the gaming department. With the pandemic no longer keeping people inside the house, there are fewer reasons to invest in expensive gaming equipment, which directly impacts the chipmakers.

Nvidia shares closed at $172.22 on Wednesday, which represents a 42.2% drop year-to-date. After the Q2 results came out, the stock came down even further, trading for $164.40 in the after-hours market.

“We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said Nvidia founder and CEO Jensen Huang in a statement.

The post Nvidia Stock Dips After Earnings Miss Wall Street Estimates appeared first on theprimarymarket.com.

S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

The post Nasdaq Futures Up 2% Following Blowout Nvidia Earnings appeared first on theprimarymarket.com.

Investors are on edge due to the high expectations held for Nvidia’s earnings, particularly on the back of its artificial intelligence developments. Given Nvidia’s major influence over the market, any disappointment in the report could shift stocks downward at large.

Markets are also bracing for the release of the minutes from the Federal Reserve’s January meeting in an effort to gauge the trajectory of the central bank’s interest rate policy. Currently, investors appear to be gravitating toward the belief that the Fed will introduce interest rate cuts in June; a long way off from previous expectations of a rate cut as early as March.

The post U.S. Futures Fall Ahead Of Nvidia Earnings appeared first on theprimarymarket.com.

Data center revenue for the chipmaker came in at $10.3 billion while its gaming revenue hit $2.5 billion, beating estimates of $8 billion and $2.4 billion respectively. The company released a current quarter revenue guidance of $16 billion, plus or minus 2%, exceeding analysts’ expectations of $12.5 billion.

Nvidia’s recent surge came during the heat of the AI hype, with the chipmaker largely leading the charge. “A new computing era has begun,” CEO Jensen Huang stated following the earnings release. “Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

The post Nvidia Stock Surges Following Quarterly Report appeared first on theprimarymarket.com.

Nvidia is expected to benefit from increased demands for their chips that were caused by the Artificial Intelligence race. Both high-profile companies and smaller developers are relying on Nvidia chips to power their AI platforms.

In the first quarter, Nvidia blew past analysts’ expectations, reporting $7.2 billion in revenue compared to an estimated $6.5 billion. It also raised its forecast for Q2, saying it expects revenue of $11 billion, while analysts predicted $7.3 billion.

The same outcome is expected in Q2, considering that the company was able to increase its margins thanks to the high demand.

“I anticipate that the results are going to look really outstanding because demand is so high, and that means Nvidia is able to command even higher margins than it would otherwise,” Forrester analyst Glenn O’Donnell told Yahoo Finance.

Most analysts raised the target price for Nvidia’s stock in recent days. UBS analysts have now set the target price from $475 to $540, while Baird’s analysts went even further, increasing the target price to $570 compared to the previous $475.

Nvidia’s stock opened at $404.98 per share on Monday morning but has climbed all the way to $439.04 through Wednesday. The company’s shares are 206.70% up year-to-date.

The post Nvidia Stock Continues to Climb As Q2 Earnings Are Expected to Outperform Estimates appeared first on theprimarymarket.com.

This market uptick comes as investors brace themselves to digest the July retail sales report as well as a slew of earnings from the United States’ premium Big Box stores, including Walmart, Target, and Home Depot.

Markets also await the minutes of the Federal Reserve’s last policy meeting, due to be released on Wednesday. With the central bank choosing to resume its interest rate hiking agenda, analysts will hope to find clues on the Federal Reserve’s next moves regarding its fiscal policy when it reconvenes in September.

Home Depot is set to release its earnings during premarket trading on Tuesday, while Target will report its earnings on Wednesday and Walmart will announce its results on Thursday.

The post U.S. Stocks Up Amid Nvidia Surge appeared first on theprimarymarket.com.

The company’s growth has been fuelled by the ongoing AI boom, with the company developing a range of high-powered graphics cards and server products in a bid to edge out competitors. On Monday, Nvidia announced the development of a new supercomputer to support its surging AI demand as well as a platform that will utilize AI in video game development.

Since the start of the year, Nvidia’s stock has skyrocketed by 165%. This includes a 26% rise last Thursday after the company announced strong quarterly results that beat analysts’ estimates.

Following the release of its quarterly results, Nvidia rose its second-quarter outlook and now expects revenue of $11 billion, exceeding Wall Street estimates of $7.2 billion.

“There’s a war going on out there in AI, and Nvidia today is the only arms dealer out there,” Raymond James managing director Srini Pajjuri stated in a note to investors. “So as a result we’re seeing this huge jump in revenues.”

The post Nvidia Hits $1 Trillion Market Cap Amid AI Boom appeared first on theprimarymarket.com.

The supercomputer, called Israel-1, is expected to be one of the world’s fastest supercomputers, delivering a performance of up to eight exaflops of AI computing. One exaflop is capable of performing 1 quintillion (1,000,000,000,000,000,000) calculations per second.

Gilad Shainer, a senior vice president at Nvidia, explained that the company has worked with 800 startups in Israel. The supercomputer was designed by the former Mellanox team; the Israeli chip designing company that Nvidia acquired in 2019 for nearly $7 billion, outbidding Intel Corp.

“Generative AI is going everywhere nowadays. You need to be able to run training on large datasets,” Shainer told reporters. “This system is a large scale system that actually will enable them to do training much quicker, to build frameworks and build solutions that can tackle more complex problems.”

Outside of the Israeli supercomputer, Nvidia revealed that it is working with Britain’s University of Bristol to build an advanced supercomputer to compete with competitors Intel and Advanced Micro Devices Inc.

The post Nvidia to Build Supercomputer to Meet Surging AI Demand appeared first on theprimarymarket.com.

The S&P 500 edged 0.88% higher, while the tech-heavy Nasdaq Composite index spiked 1.71%. In contrast, the Dow Jones Industrial Average ended the day’s trading 0.11% lower.

Nvidia, which has catapulted into a poll position in the artificial intelligence race, released an $11 billion second-quarter revenue projection, significantly exceeding analysts’ $7.2 billion projection as released by Bloomberg. Nvidia’s rally was followed by fellow AI-heavy stocks Alphabet and Microsoft, whose shares advanced approximately 2% and 4% respectively.

“In 22 years of covering tech stocks and large-cap we have never seen a guidance range of this magnitude on a large cap tech name,” Wedbush managing director Dan Ives observed. “And thus speaks to our thesis that the monetization of AI for stalwarts like Microsoft, Alphabet, Amazon, Oracle, Meta, Apple, and Salesforce is well underway.”

The newfound tech rally helped to subdue investor concerns regarding the stalling U.S. debt ceiling talks. Also on investors’ and economists’ radars were the quarterly GDP reading, which showed 1.3% U.S. economic growth in Q1, and the weekly jobless claims report, which showed a lower-than-expected 229,000 claims filed for the period.

The post Nvidia Stock Drives Tech Rally on Thursday appeared first on theprimarymarket.com.

The report stated that the U.S. share of chip design revenue has dropped from over 50% in 2015 to 46% in 2021. According to the report, this figure could slump below 36% by the end of the decade without sufficient support from the government. This comes after the U.S. has already lost its lead in chip manufacturing to China.

Following the loss of its poll position as the world’s leading chip manufacturer, the U.S. government passed the CHIPS and Science Act this year in an effort to restore its lead. This initiative includes $39 billion in manufacturing grants and $13 billion for R&D activities.

Among the United States’ leading chip designers are Nvidia, Intel, and Qualcomm. While Intel Corp designs and manufactures chips in-house, Nvidia Corp and Qualcomm Inc handle the design while outsourcing production to foreign companies, including the likes of Taiwan Semiconductor Manufacturing Co.

Government support is also listed by the report as a significant driver of market share growth for China and South Korea.

The post Report: U.S. Chip Design Market to Stumble Without Government Support appeared first on theprimarymarket.com.

Nvidia’s $6.7 billion Q2 revenue matched the $6.7 billion expected, but its adjusted earnings per share missed on $0.53 estimated and came to $0.51. The Santa Clara, California-based company also had a net income of $656 million, representing a 72% year-over-year decrease.

For the third quarter of the year, Nvidia predicts that it will bring in $5.9 billion in revenue, falling $1 billion short of the $6.9 billion predicted by analysts. The biggest reason for Nvidia’s poor results and bleak expectations has been slumping sales in the gaming department. With the pandemic no longer keeping people inside the house, there are fewer reasons to invest in expensive gaming equipment, which directly impacts the chipmakers.

Nvidia shares closed at $172.22 on Wednesday, which represents a 42.2% drop year-to-date. After the Q2 results came out, the stock came down even further, trading for $164.40 in the after-hours market.

“We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said Nvidia founder and CEO Jensen Huang in a statement.

The post Nvidia Stock Dips After Earnings Miss Wall Street Estimates appeared first on theprimarymarket.com.