Is Nvidia the Only AI Stock Worth Owning?
Nvidia (NASDAQ: NVDA) dazzled the stock market on Wednesday, posting better-than-expected results in its first-quarter earnings report and offering eye-popping guidance for the second quarter. Shares finished the aftermarket session nearly 25% higher, adding close to $200 billion in market value.
The world's most valuable semiconductor company actually reported a year-over-year decline in revenue, which was expected as it faces difficult comparisons in its gaming segment. However, all eyes were on the data center segment. This area reflects the surging demand for artificial intelligence (AI) chips, which has skyrocketed since ChatGPT's launch late last year. Here, Nvidia did not disappoint.
Data center revenue rose 14% from the previous year and 18% from the previous quarter to a record $4.28 billion, and Nvidia's management forecast accelerating demand for AI capabilities.
Source Fool.com
