Nvidia surges 15%, hits all-time high on upbeat earnings - Breaking The News
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Nvidia surges 15%, hits all-time high on upbeat earnings

UNSPLASH / ALIREZA KHATAMI

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.

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