Latest Tech: Nvidia stock is rebounding after the chipmaker exceeded Wall Street’s sky-high expectations
Nvidia reported revenues of $22 billion in the fourth quarter, up nearly 270% from the prior year and even above Wall Street’s soaring expectations.Nike and PepsiCo executives on how to find your worth | Your WalletThe tech giant’s stock got a big boost from the news, rising nearly 9% to $732 per share in after-hours trading.Nvidia’s H100 GPUs, the $30,000 chips that power generative AI products, have unleashed a buying frenzy from the biggest of big tech companies. Its largest purchasers are Microsoft and Meta — which spent $4.5 billion each on the chips last year — followed by Google parent Alphabet, Amazon, and Oracle.Even as those customers moved to develop their own AI chips and partner with its rivals, Nvidia’s revenues from generative AI show no signs of slowing. Fourth quarter reve...