Wednesday, May 10, 2017

NVIDIA Stock Up On Demand For AI Chips

NVIDIA stock is up more than 14% after the company reported quarterly revenue of $1.94 billion, up 48% year over year.

NVIDIA's core gaming business revenue rose by an impressive 49% to $1.03 billion, compared to $687 million from the same quarter last year. The company's automotive business brought in $140 million, up from $113 million the previous year. Sales into data center were stronger than expected at $409 million, up from $143 million in 2016.