Nasdaq rebounds: Nvidia (NVDA) earnings beat ends AI winter fears
Nvidia's (NVDA) impressive earnings report has alleviated fears of an "AI investment winter," boosting market sentiment. The company announced a significant $500 billion AI-Chip investment for next year, dispelling concerns of a peak in AI investment. This positive news has led to a rebound in Nasdaq, with Nvidia's stock trading around $191.90 after-hours, lifting the tech sector's mood.
The narrative of an "AI investment winter" coming to an end has been a terrifying prospect for stock aficionados, casting a long shadow over the beginning of the month.
After the data-blackout from the US Government, markets were increasingly jittery, spooked by a a lack of public information, not-so-great private reports and gloomy foreshadowing from industry titans like the Nvidia CEO and OpenAI CFO.
But Nvidia (NVDA) flipped the script entirely, and the market is loving it:
Talk about a beat on earnings: the numbers were stellar, but the forward communications were even more ecstatic with some $500 Billion of AI-Chip investment expected next year from the Semiconductor giant, dispelling fears of a peak in AI Investment.
You can access the entire earnings report here if interested.
The most valuable company in the world is already heading back just below the $200 mark (trading around $191.90 after-hours), dragging the entire tech sector out of its sentiment-slump.
