Nvidia's Stock Surges 12% in Pre-market Trade After Posting Record Earnings and Revenue Forecast

Nvidia's stock surged over 12% in premarket trading following impressive earnings that exceeded Wall Street's expectations. The company's fourth-quarter revenue rose by 265% year-on-year, with net income surging by 769%, driven by excitement over AI. Nvidia predicts a $24 billion revenue for the current quarter, prompting optimistic sentiment. The positive outlook led to broker upgrades, with JPMorgan and Bank of America raising their price targets on Nvidia's stock. The company's strong performance also lifted other global chip stocks.

Impressive Earnings

Nvidia's fourth-quarter results exceeded Wall Street's expectations, leading to a significant surge in stock value during premarket trading.

Robust Growth and Predictions

The company reported a remarkable 265% year-on-year increase in fourth-quarter revenue, accompanied by a 769% surge in net income. Moreover, Nvidia's optimistic prediction of a $24 billion revenue for the current quarter instilled positive sentiment in the market, leading to broker upgrades and a positive impact on other chip stocks.