Reuters reported shares of Nvidia (NVDA.O) rose as much as 6.7% on Thursday, hitting an all-time high, after the company unveiled a $25 billion stock buyback plan and record quarterly revenue powered by strong demand for its artificial intelligence (AI)-focused chips. Nvidia closed up 0.12% at $471.74 the day after the company beat analyst expectations when it reported second-quarter revenue of $13.51 billion after the bell, and predicted revenue would reach $16 billion in the third quarter.
Business & FinanceTechnology
Nvidia shares hit record high as AI demand fuels record results
24 August 2023, 5:32 pm 1 minute
Market Impact
Shares of Nvidia (NVDA.O) rose as much as 6.7% on Thursday, hitting an all-time high, after the company unveiled a $25 billion stock buyback plan and record quarterly revenue powered by strong demand for its artificial intelligence (AI)-focused chips. Nvidia closed up 0.12% at $471.74 the day after the company beat analyst expectations when it reported second-quarter revenue of $13.51 billion after the bell, and predicted revenue would reach $16 billion in the third quarter.
Article Tags
Topics of Interest: Business & FinanceTechnology
Type: Reuters Best
Sectors: Business & FinanceTechnology
Regions: Americas
Countries: US
Win Types: Impact (Long Term)
Story Types: Special Report / Insight
Media Types: Text
Customer Impact: Important Regional Story
