Shares of Nvidia Corporation soared more than 15% in Wednesday's after-hours trading, hitting an all-time high, after the company posted better-than-expected results for the first quarter of its fiscal 2024.
The chipmaker beat estimates on the top and bottom lines, reporting revenue of $7.2 billion for the first quarter and diluted earnings per share of $0.82. Furthermore, Nvidia also published an upbeat outlook for the second quarter, mostly due to increasing demand for AI chips.
Nvidia soared 15.11% to $351.53 at 4:27 pm ET.