Markets breathed a sigh of relief after Nvidia’s long-anticipated earnings report comfortably beat expectations, with revenue up an eye-watering 262% from last year, sending its share price to an all-time high of $1,017 after market close. Driven by massive AI demand, the chipmaker also announced a 10-to-1 stock split, which will make shares more accessible for retail investors and could boost share prices even more.
“The industry is going through a major change,” Nvidia CEO Jensen Huang said on an earnings call Wednesday. “The next industrial revolution has begun. Companies and countries are partnering with Nvidia to shift the trillion-dollar installed base of data centers to accelerate computing and build a new type of data center, AI factories, to produce a new commodity, artificial intelligence.”
