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International Business Times UK

Business

Niloy Chakrabarti

Nvidia's Q1 EPS Surges 140% on Data Centre Revenue Blowout, Allaying AI Bubble Fears

Nvidia Jensen Huang

Nvidia has a market cap of over $5.4 trillion. (Credit: Pexels)

US equity indexes surged by around 1% on Wednesday, buoyed by Nvidia after it posted record fiscal Q1 financial results to alleviate AI bubble fears.

Major hedge funds, including David Tepper's Appaloosa, Ken Griffin's Citadel Advisors, and even Steve Cohen's Point72 Asset Management, sold a considerable amount of the Nvidia stock in Q1. Even The Big Short's Michael Burry continues to hold a massive bet against Nvidia as he believes the market fundamentals don't actually align with his investment philosophy anymore.

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