Following Nvidia’s Earnings, a Top Analyst Says the AI ‘Boom Is Just Starting’

Semiconductor champion Nvidia (NVDA) delivered another more-than-solid earnings report after the closing bell on Wednesday, Aug. 27, showing earnings of $46.7 billion, up 56% year over year despite having no sales of its H20 chip in China. And while the stock slipped slightly after earnings, Nvidia got a huge endorsement today from one of Wall Street’s top tech analysts.

“I think the boom is just starting,” Wedbush Securities senior analyst Dan Ives told Bloomberg. “I mean, if you look at these numbers, especially when you factor in where China’s going to be, I mean, [CEO Jensen Huang] talked about $50 billion, 50%-type growth number. This just shows the next stage of adoption is actually just starting. I think the stock is green today.”