Shares of Nvidia (NASDAQ: NVDA) rose 18.8% last month, according to data provided by S&P Global Market Intelligence, due to a strong quarterly earnings report and positive industry news from its peer group. The growth stock rose and fell throughout February due to broader market forces, but its quarterly results sent shares firmly higher during the last week of the month.

Nvidia's rival Advanced Micro Devices released its quarterly results on the last day of January. AMD indicated significant demand among data center customers, which helped to offset weakness in the consumer PC market. The semiconductor stock climbed following this news, dragging Nvidia higher in the first week of February. Wall Street is excited about Nvidia's long-term opportunity in the data center market, so this news was bullish for both companies. Later in the month, some of those gains were erased as the market tumbled due to rising concerns about high interest rates and economic weakness.

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Source Fool.com