DIRS.INFO The most relevant business & tech news

☆ Jensen Huang's 14-hour days and workaholic lifestyle helped him turn Nvidia into an AI powerhouse
▼ + stars: | 2024-09-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +6 min

He told last year's New York Times DealBook Summit: "I don't wake up proud and confident — I wake up worried and concerned." That's because Nvidia almost went bankrupt in the late 1990s — a memory he says is hard to shake off. Huang works holidays but finds it relaxingNvidia CEO Jensen Huang. On the "20VC" podcast in March, Tangen said Huang told him, "'Nicolai, there is hard work and then there's insanely hard work.'" When I'm not working, I'm thinking about working, and when I'm working, I'm working.

Persons: —, Jensen Huang, Huang, Mohd Rasfan, Huang doesn't, Nicolai Tangen, Tangen, Nicolai, I'm, David Solomon, Goldman Sachs, Huang's, Michael M, That's Organizations: Service, Nvidia, Financial Times, Business, New York Times DealBook, Microsoft, Apple, Getty, Norges Bank Investment Management, Technology Conference, Stripe's Sessions, Big Tech, CNN, Forbes, Stripe Sessions, Stanford School of Business, Stanford University Locations: AFP

☆ These 5 portfolio stocks crushed the volatile market since our August Monthly Meeting
▼ + stars: | 2024-09-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

It's been a topsy-turvy stock market since the Club's August Monthly Meeting. These were two of our top performers since the August Monthly Meeting. The stock closed nearly 5% higher on the eve of the September Monthly Meeting. The S & P 500's health care sector is up 2.2% since the August Monthly Meeting, slightly outperforming the broad index's 1.8% rise in that timeframe. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: It's, We've, Eli Lilly, Estee Lauder, Jerome Powell, it's, DA Davidson, Goldman Sachs, Goldman, Andy Jassy's, TJX, Jensen Huang, Abbott, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Dow Jones Industrial, Nasdaq, Investor, Federal, Procter, Gamble, Dover, Abbott Laboratories, TJX, Amazon, Micro Devices, Jackson, Bank of America, Telsey Advisory Group, JPMorgan, Oracle, Devices, AMD, Nvidia, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: seesaw, Wednesday's, U.S

☆ Nvidia chips are in such high demand that customers are 'emotional,' Huang said
▼ + stars: | 2024-09-12 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Read previewNvidia CEO Jensen Huang said that a shortage of his company's products is making customers "emotional" and that things are tense. Huang, dubbed the King of AI, said the demand for Nvidia's products is so high because everyone wants to get them first — and they want a lot. He added, "Demand is so great that delivery of our components, our technology, infrastructure, and software is really emotional for people." "We probably have more emotional customers today. In August, Nvidia sparked worries that its next generation of AI chips, Blackwell , would be delayed by two to three months.

Persons: —, Jensen Huang, Huang, Goldman Sachs, Blackwell Organizations: Service, Business, Nvidia, Meta, Microsoft, Google, Blackwell Locations: San Francisco

☆ Wall Street likes what Nvidia CEO said about the future and new AI chip rollout. So did we
▼ + stars: | 2024-09-11 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Investors returned to Nvidia stock Wednesday after CEO Jensen Huang made a compelling case at a major tech gathering for the innovation he strives for and the competitive moat he's built. There have been a lot of doubters on Wall Street since Nvidia reported quarterly results on Aug. 28 . NVDA YTD mountain Nvidia YTD On stage with Goldman Sachs CEO David Solomon, Huang was asked how he views the competition. The way that computers are built today, if you look at our new Blackwell system, we design seven different types of chips to create the system. While ducking a question about Nvidia stock, Solomon did tell CNBC that Nvidia is a "super company" that's well-positioned to keep succeeding.

Persons: Jensen Huang, Goldman Sachs, That's, David Solomon, Huang, Blackwell, Nvidia's, it's, ramping Blackwell, that's, It's, Solomon, Communacopia, Jim Cramer's, Jim Cramer, Jim, Sam Yeh Organizations: Nvidia, Technology Conference, CNBC, Goldman, Blackwell, AFP, Getty Locations: San Francisco, Communacopia, Taipei

☆ We're about to find out if Jensen Huang can get investors to snap out of their AI panic
▼ + stars: | 2024-09-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Read previewJensen Huang faces a monumental task as he takes center stage at a Goldman Sachs event on Wednesday: getting AI investors to stop panicking. However, there are signs suggesting that investors are getting pretty angsty over the future of Nvidia and AI more broadly. The markets are in a panic over AINvidia has been a powerhouse at the center of the generative AI boom. First, Nvidia's 122% year-on-year revenue growth in the last quarter was smaller than the 262% growth it recorded in the previous quarter. "I do not believe that Jensen is able to say anything that will quell investors' nerves," he said.

Persons: —, Jensen Huang, Goldman Sachs, Chris Beauchamp, Jeff Chiu, Beauchamp, Bernstein, Emma Cosgrove, Huang, Blackwell, Alvin Nguyen, Forrester, Jensen Organizations: Service, Nvidia, Technology Conference, Business, Google, Meta, Microsoft, Santa, Big Tech, Blackwell Locations: San Francisco, Santa Clara

☆ Wall Street mounts a comeback, and Honeywell finally hints at what may be next
▼ + stars: | 2024-09-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Jensen Huang, Goldman Sachs, Vimal Kapur, Morgan, Kapur, We've, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Nvidia, Broadcom, Nvidia's, Technology Conference, Honeywell, Laguna Conference, Signet Jewelers, Jim Cramer's Charitable Locations: Kroger

☆ The AI theme is 'overcooked' and investors should take shelter in quality defensive stocks, Morgan Stanley's CIO says
▼ + stars: | 2024-09-11 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

In the meantime, they should take shelter in quality defensive stocks, Morgan Stanley says. We just got overcooked on the whole AI theme," Wilson said. AdvertisementWith the AI rally fading for now, Wilson says investors are waiting for a new theme to emerge, and taking shelter in "quality defensive stocks" in the meantime. "In our view, a slowing labor market is consistent with a late cycle backdrop and quality + defensive leadership," Wilson wrote. AdvertisementLast month, Wilson's team added three new quality defensive stocks to its "Fresh Money Buy List," which now totals nine stocks.

Persons: Morgan Stanley's Mike Wilson, Wilson, —, they're, Morgan Stanley, Mike Wilson, Morgan, We're Organizations: Service, Bloomberg Surveillance, Nvidia, Semiconductor

☆ Nvidia CEO Jensen Huang tells David Solomon companies get things done 20 times faster with generative AI
▼ + stars: | 2024-09-11 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

Read preview"What Nvidia's really good at is creating new markets," Nvidia CEO Jensen Huang told Goldman Sachs CEO David Solomon at a technology conference hosted by the investment bank Wednesday. Solomon asked the most important question in tech today: Where is the return on investment from all this investment in AI infrastructure? AdvertisementFirst, in the age of generative AI, Huang said, cloud providers who buy Nvidia (and other) GPUs and rent them to tech companies, make $5 for every $1 they spend. Huang argued that upgrading existing data centers to "accelerated computing," or the parallel computing that Nvidia GPUs and other AI chips enable, is inevitable. Even if Nvidia's claims that AI computing is more energy efficient are true, the AI boom is expected to put massive pressure on electricity grids.

Persons: —, Jensen Huang, Goldman Sachs, David Solomon, Huang, Solomon, — you've Organizations: Service, Nvidia, Business

☆ Nvidia stock jumps as CEO Jensen Huang looks to address key investor concerns
▼ + stars: | 2024-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock surged 6% on Wednesday, helping fuel a tech-led rebound in the stock market. CEO Jensen Huang discussed the return on investment of AI infrastructure at a Goldman Sachs conference. Productivity gains and immediate cost savings are the core tenets of Nvidia's ROI pitch to customers. The gains in Nvidia stock came as CEO Jensen Huang addressed investors at a Goldman Sachs conference in San Francisco Wednesday morning. "You reduce the computing time by about 20 times, and so you get a 10x savings," Huang said of running Nvidia's GPU accelerators relative to traditional CPUs.

Persons: Jensen Huang, Goldman Sachs, —, David Solomon, Huang, Solomon, Nvidia's, Claude, There's Organizations: Nvidia, Goldman, Productivity, Service, San Locations: San Francisco

☆ Nvidia earnings: How to play the stock
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia earnings: How to play the stockBen Reitzes, Melius Research head of technology research, joins 'Squawk Box' to discuss Nvidia's recent stock performance, if Nvidia's stock will track macroeconomic concerns, and much more.

Persons: Ben Reitzes

☆ Nvidia stock is on track to double in coming years as AI follows the path of past tech bubbles, portfolio manager says
▼ + stars: | 2024-09-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Nvidia stock has a lot more room to run, according to Dan Niles. The Niles Investment founder compared Nvidia to Cisco prior to the peak of the dot-com bubble. Nvidia shares could double in the next couple of years, he predicted. Nvidia shares, by comparison, have risen around 1,500% over the last six years. The chipmaker has hit a rough stretch in recent weeks, with shares dropping 27% from their peak earlier this summer.

Persons: Dan Niles, —, who's, Niles, you've, I've, Blackwell Organizations: Niles Investment, Nvidia, Cisco, Service, Niles Investment Management, CNBC, Blackwell, Nasdaq

☆ Nvidia may be the AI darling, but it's time to start looking at this chip stock, one CIO says
▼ + stars: | 2024-09-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Tema ETFs' Yuri Khodjamirian is keeping a close watch on chip designer Qualcomm Inc . As AI shifts from data centers — an Nvidia "stronghold" — to the " edge ," investors should "start looking at companies like Qualcomm," Khodjamirian said. And "edge AI" is more than about chips — "it's really everything, the silicon content of our mobile phones and PCs, has to go up, because you need better memory; you need better connectivity between the different semiconductors. Qualcomm's shares are currently trading at around 15.3 times forward earnings, while Nvidia has a multiple of around 38, according to FactSet data. 'Emerging Edge AI play' Analysts at KeyBanc Capital Markets are bullish on Qualcomm and have a target price of $225 on the stock, or 55.8% upside.

Persons: Yuri Khodjamirian, CNBC's, It's, Khodjamirian, Cristiano Amon, Leswing, Arjun Kharpal, Michael Bloom Organizations: Nvidia, Qualcomm Inc, Qualcomm, Samsung, Nasdaq, CNBC, Google, KeyBanc Locations: Tema

☆ Jim Cramer names chip stocks to buy on the dip
▼ + stars: | 2024-09-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday recommended three chip stocks to buy at a discount: Micron , AMD and Arm . "I think the chip stocks have sold off way too hard," he said. The chip sector has retreated in recent weeks, with SMH , a prominent semiconductor exchange-traded fund, down more than 18% from its 52-week high in July, according to FactSet. Micron : Cramer called Micron "the market leader in memory chips," and said the hyperscalers building out data centers need memory. He added that he thinks the stock is currently cheap based on its earnings estimates for the next fiscal year.

Persons: CNBC's Jim Cramer, FactSet, Cramer, —, stoking, AMD's Organizations: Micron, AMD, Nvidia, Apple

☆ Why Nvidia and Its Stock Have Developed a Cult-Like Following
▼ + stars: | 2024-09-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +13 min

I probably do not have to tell you that Nvidia has really blown up over the past few years. "If people were going to be going crazy about a stock, wouldn't it be this one?" Jack, a moderator of a subreddit dedicated to Nvidia's stock, finds some of the memes around Nvidia irksome. He said ChatGPT's capabilities reinforced his belief in his thesis around Nvidia and AI. I'm not a Nvidia true believer, but I'm apparently Nvidia curious.

Persons: Jensen Huang, Angelo Zino, Jim Cramer, Josh Brown, fanboys, Kamala Harris, I'm, Dan Ives, Huang, Daniel Williams, Williams, David, Goliath, Christopher Schwarz, that's, Axios, Felix Salmon, he's, Jack can't, It's, Berkshire Hathaway, Warren Buffett, Buffett, There's, Schwarz, Brown, Ted Mortonson, Baird, They've, cooly, they're, Mortonson, Ives, Elvis, Zack Morris, Taylor Swift, Chappell Roan, Emily Stewart Organizations: Nvidia, Wall Street, Woodstock, CFRA Research, CNBC, Ritholtz Wealth Management, Elon, NFL, Democratic, People, Wedbush Securities, Lebron, Davids, University of California, Paul Merage School of Business, Nvidia irksome, GameStop, GameStop —, Cisco, Department, Justice, ChatGPT, Business Locations: New York City, New York, Jack, Maine, Omaha , Nebraska, —

☆ This semiconductor ETF just had its worst week since 2020. Here's what's next
▼ + stars: | 2024-09-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

The VanEck Semiconductor ETF (SMH) sank 11.7% in the Labor Day-shortened, four-day trading week. That was its worst week since a 15.2% drop in March 2020, spurred by the Covid lockdown. SMH 3M mountain This semiconductor ETF just had its worst week since 2020. VanEck itself launched a somewhat narrower version of the fund — the VanEck Fabless Semiconductor ETF (SMHX) , with 22 stocks — last month. Looking ahead, investors will likely get updates from several chipmakers next week at the Goldman Sachs Communacopia + Technology Conference.

Persons: it's, Cantor Fitzgerald, CJ Muse, Muse, —, Bernstein, Stacy Rasgon, Rasgon, VanEck, Nick Frasse, Frasse, Goldman Sachs, CNBC's Gina Francolla Organizations: VanEck Semiconductor, Labor, Nvidia, Taiwan Semiconductor Manufacturing, Wall Street, SOX, CNBC, Intel, Broadcom, Semiconductor, Technology Conference, Devices Locations: VanEck

☆ Bears are eager to front-run a recession that has not materialized
▼ + stars: | 2024-09-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Let's front-run the September-October weakness Another chunk of investors is equally pessimistic, but for a different reason. 2) Corporate buybacks, which have been exceptionally strong this year — likely a record for the S & P 500 — will likely slow soon because corporations will be entering blackout periods for several weeks heading into earnings. The S & P 500 is less than 3% from its historic high. The last time the S & P 500 had a 10% correction was July 31 to Oct. 27, 2023 (10.3% drop). That's what happens with high valuations and a slower economy.

Persons: payrolls, It's, Goldman Sachs, nonfarm payrolls Organizations: Traders, Citi, Nvidia Locations: factoids

☆ Leaked messages show early challenges for Amazon's big AI product and concern about losing customers to Microsoft
▼ + stars: | 2024-09-05 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

Amazon Q, a big new AI product, faces issues such as high costs and lack of features. Neighorn told BI that Amazon had clear pricing for Amazon Q and that customers could use the AWS Pricing Calculator to calculate Amazon Q charges. "Amazon Q only launched in April, and we continue to add new features based on customer feedback," Neighorn said. "Amazon Q has a rapidly growing customer base that is using Q for a variety of use cases." AdvertisementFor now, Amazon CEO Andy Jassy may be the biggest salesperson for Amazon Q.

Persons: —, Q, It's, Slack, Q's, AWS's, Microsoft's Copilot, Patrick Neighorn, Neighorn, Matt Garman, Garman, Andy Jassy, Jassy Organizations: Amazon, Service, Web Services, Business, Microsoft, Google, ChatGPT, BI, Microsoft's Exchange, Bayer, Smartsheet, National Australia Bank, AWS, Q, LinkedIn Locations: North

☆ Nvidia denies being served subpoena in Justice Department antitrust investigation
▼ + stars: | 2024-09-05 | by ( Erin Snodgrass | Jacob Shamsian | ) www.businessinsider.com time to read: +1 min

Nvidia denied being served a subpoena in a Justice Department antitrust investigation. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNvidia says it wasn't served a subpoena in an ongoing Justice Department investigation into the chip-making giant, contradicting an earlier report. But in a statement Wednesday afternoon, Nvidia said it "inquired" with the Justice Department and didn't get a subpoena.

Persons: —, wasn't, didn't Organizations: Nvidia, Department, Bloomberg, DOJ, Service, Justice Department, Business

☆ Why Broadcom stock is tumbling after an earnings beat — and how to play the dip
▼ + stars: | 2024-09-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

Broadcom reported an earnings beat Thursday, driven by strong sales of its AI products and VMware software. We view Broadcom as one of the biggest AI beneficiaries through its networking and custom chip businesses. However, Broadcom generated $5.3 billion in free cash flow when excluding restructuring and integration cash costs in the quarter. The semi number is a slight miss versus expectations, and the difference is probably due to the non-AI business lines because AI sales are humming. Broadcom raised its full-year AI revenue forecast to $12 billion, up from prior guidance of over $11 billion.

Persons: Hock Tan, Tan, …, Tan didn't, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Broadcom, VMware, LSEG, VMWare, Wall Street, Marvell Technology, Devices, Nvidia, Revenue, Apple, Management, CNBC Locations: Hock, American, San Jose , California

☆ The recession crowd has regained the stock market narrative, for now
▼ + stars: | 2024-09-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Every jobs number moves markets now In the meantime, every data point on jobs is a potentially market moving event. Nvidia's multiple is falling, not its earnings Meanwhile, there was much gnashing and wailing around Nvidia 's big 9% drop yesterday. Nvidia lost $279 billion in market value Tuesday. The forward multiple for Nvidia's next fiscal year (February 2025-February 2026) is 28.8, well below the 36 multiple in June. While Nvidia is certainly not a value stock, it is much more reasonably priced than it was two months ago.

Persons: Goldman Sachs, you've, they've, Tom Lee, Fundstrat, Joe Zicherman, Big, CNBC's Robert Hum Organizations: Citigroup, Bulls, CNBC, Nvidia, Meta Locations: China

☆ UBS just downgraded critical chip firm ASML on expectations of a demand 'normalization'
▼ + stars: | 2024-09-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Critical chip equipment supplier ASML is set to face softer demand from buyers of its products in the coming years — and the artificial intelligence boom won't be enough to offset these downside risks, according to analysts at investment bank UBS . Such memory chip makers include Samsung and Nvidia supplier SK Hynix. ASML is behind a key technology involved in chip manufacturing known as EUV, or extreme ultraviolet radiation. DRAM is a type of memory chip that's needed for a computer to function. Shares of the company were down more than 6% Wednesday, alongside a raft of other chip stocks , following a deep slide in Nvidia shares Tuesday .

Persons: ASML Organizations: UBS, Samsung, Nvidia, SK Hynix, U.S, CNBC Locations: ASML, China, Netherlands, U.S

People walk past the logo of Samsung Electronics in Seoul on July 7, 2022. Global semiconductor and associated stocks fell on Wednesday, following a steep plunge in Nvidia's share price in the U.S. overnight. In the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street. Around $279 billion of value was wiped off of Nvidia on Tuesday, in the biggest one-day market capitalization drop for a U.S. stock in history. Nvidia's value chain extends to South Korea, namely, memory chip maker SK Hynix and conglomerate Samsung Electronics.

Organizations: Samsung Electronics, Samsung Electronics Co, Nvidia, Bloomberg, Department of Justice, Facebook, SK Hynix Locations: Seoul, South, U.S, South Korea

☆ Chip companies like Nvidia and Intel are facing a major gender gap amid the AI boom
▼ + stars: | 2024-09-02 | by ( Helen Li | ) www.businessinsider.com time to read: +9 min

She went to work as a process engineer at an Intel chip fab in Arizona. Over half of companies reported less than 10% representation of women in technical director roles and less than 5% in technical executive leadership roles. While the chip industry makes efforts to expand the recruiting pool in general so that hiring can be more inclusive, the changes can feel incremental. Related storiesIntel set goals to increase its female senior leadership representation to 25% and technical roles to 40% by 2030. Closing the gender gap in the chip industry will require more efforts from companies and top leadership to make these career paths more inclusive and stable.

Persons: —, she's, Jared Tatham, Luke Tomaszko, it's, Tomaszko, It's Organizations: Service, Colorado School of Mines, Intel, Accenture, Latina, Micron, AMD, Nvidia, Global Semiconductor Alliance, University of Texas, Austin, MIT . Pipeline, Business, Insight Global, Acceler8 Locations: Arizona, Idaho, New York

☆ Hollywood has a big problem with how people are watching TV these days
▼ + stars: | 2024-08-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, viewers are opting for free TV, and that's throwing a massive wrench in Hollywood's plans . AdvertisementBut first, what's on (free) TV? The big storyChanging channelsGetty Images; iStock; Natalie Ammari/BIIf the best things in life truly are free, Hollywood is about to learn a brutal lesson. But what's really caught people's attention over the past year has been "free, ad-supported TV" or FAST services. Figuring out how to make money from free TV is a big enough problem.

Persons: —, Natalie Ammari, upend, Insider's Lucia Moses, what's, Andy Kiersz, Fox's Tubi, Gen Z, that's, Jenny Chang, Rodriguez, cofounders, John Overdeck, David Siegel, Carter Lyons, Scott Hoffman, Warren Buffett's, Berkshire Hathaway, Buffett, Noah Berger, Chelsea Jia Feng, Jensen Huang, Alyssa Powell, Banks, Sam Altman's, Kamala Harris, Tim Walz's, Dana Bash, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Tech, Hollywood, Nielsen, Netflix, Paramount, Pluto, Comcast, Warner Bros . Discovery, YouTube, Getty, Big Tech, Chelsea, Menlo Ventures, CNN Locations: Berkshire, A16z, New York, London

☆ Nvidia shares fall despite earnings beating estimates
▼ + stars: | 2024-08-29 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Nvidia issued market-beating revenue guidance for its fiscal third quarter of $32.5 billion. Nvidia reported July quarter revenue on Wednesday of more than $30 billion, up 122% year on year. Nvidia shares fell on about 6% Thursday, as the company's fiscal second-quarter gross margin dipped slightly, and its revenue beat was eclipsed by a backdrop of increasingly lofty expectations. The pullback in the stock on Thursday also comes after a meteoric rally, with Nvidia's shares rising more than 150% this year to date. The company also announced a $50 billion stock buyback program.

Persons: Colette Kress, Kif Leswing Organizations: Nvidia, Samsung, Taiwan Semiconductor Manufacturing, Blackwell Locations: Nvidia's, Blackwell

Search resuls for: "NVIDIA's"

25 mentions found