Walid Berrazeg | Lightrocket | Getty ImagesNvidia shares jumped more than 12% in premarket trade on Thursday after the chip giant posted bumper earnings that beat Wall Street estimates.
Nvidia chips are used to train the huge AI models such as those developed by Microsoft and Meta .
The company forecast its revenue in the current quarter will hit $24 billion, way ahead of estimates.
"Fundamentally, the conditions are excellent for continued growth" in 2025 and beyond, Nvidia CEO Jensen Huang told analysts on Wednesday, adding to the bullish sentiment around the stock.
Nvidia's Data Center business, which includes the company's H100 graphics cards that are used for AI training, posted sales of $18.4 billion in the fourth quarter, representing 409% year-on-year growth.
Persons:
Jensen Huang, Walid Berrazeg
Organizations:
Nvidia, Lightrocket, Getty, Wall, Microsoft, Meta, Data Center
Locations:
U.S