Highlights

  • Nvidia's market cap surges by $277 billion in one day.
  • Fourth-quarter revenue hits $22.10 billion, surpassing Wall Street estimates.

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Nvidia's market cap skyrockets: Surpasses Meta's record with $277 billion gain

The chipmaker's fourth-quarter revenue surged to $22.10 billion, exceeding Wall Street estimates, driven by robust demand for its AI technologies.

Nvidia's market cap skyrockets: Surpasses Meta's record with $277 billion gain

Nvidia made history on Thursday as its shares soared to unprecedented heights, propelling its market capitalization to a staggering $277 billion surge in just one trading session. This remarkable feat eclipsed the previous record set by Meta Platforms a mere three weeks prior.

The chipmaker's stock skyrocketed by 16%, driving its total market value close to the monumental $2 trillion mark. This surge was fueled by Nvidia's stellar financial performance, which underscored the bullish outlook on its artificial intelligence technologies. Wall Street was particularly impressed by the company's robust guidance, which outpaced analysts' expectations.

Nvidia's latest earnings report showcased a series of impressive figures, with fourth-quarter revenue hitting $22.10 billion, a substantial increase from $6.05 billion previously. Adjusted earnings per share stood at $5.16, surpassing estimates by a significant margin. This strong performance reflects the growing demand for Nvidia's AI solutions, with major tech players like Microsoft Corp. and Meta driving substantial investments in the sector.

Analysts, including Joseph Moore from Morgan Stanley, lauded Nvidia's ability to consistently exceed expectations, especially amidst the ongoing surge in AI demand. The company's optimistic forecast for the first quarter, with revenue expected to grow by 233%, further solidified investor confidence, reported Bloomberg.

Looking ahead, Nvidia anticipates first-quarter revenue to reach $24.0 billion, with an adjusted gross margin of 77%. These projections, which surpass Wall Street estimates, underscore Nvidia's position as a key player in the rapidly evolving tech landscape.

Also Watch: Nvidia surges over 15% after Q4 revenues soars, up 265% year on year

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