Nvidia shares turn positive in premarket trading

Nvidia The stock became a brief positive on Thursday after reporting better earnings and income than expected for the second quarter of the financial manufacturer.

The shares of the giant of artificial intelligence chip were initially recording after the report.

According to LSEG, sales increased by 56% in the quarter to 46.74 billion dollars, which was found in Line, which was foreseen by the Wall Street, approximately $ 46.06 billion. The company reported that the corrected earnings per share was $ 1.05 and completed $ 1.01 per share by analysts.

The data center income of $ 41.1 billion remained below predictions for the second flat period, but still increased by 56% compared to the previous year.

Nvidia, this quarter income expects to be 54 billion dollars, plus or minus 2%, but this number does not contain H20 reference to China, he said. According to LSEG, analysts were expecting $ 53.1 billion income.

In a conference meeting with investors, NVIDIA CEO Jensen Huang said that AI was “tremendous progress” last year and is still in the first stages of the accumulation of AI infrastructure.

“As the Artificial Intelligence Revolution entered the steam, the AI ​​race continued, Capex has doubled for $ 600 billion per year.” He said. “There is five years between the current and the end of the decade, and $ 600 billion represents only the first four hyperskalers.”

Huang foresee 3 trillion dollars to $ 4 trillion to $ 4 trillion in AI infrastructure expenditures by the end of a decade.

“The next opportunity is tremendous,” he added.

Benchmark analysts said on Thursday that Nvidia’s guidance was “only modest for a raised street consensus”, but the report in general showed “solid and annual growth”.

“We believe that the results of NVIDIA are consistent with their previous goals and in no way is an indication of slowing in interest or slowing in their investments,” Nvidia has a degree of purchasing on the shares of Nvidia.