Why Nvidia Stock Popped Today
Nvidia stock jumped 4.9% after Intel reported a strong Q1 with sales up 7% year over year and projected 5% sequential growth in Q2, alleviating concerns about slowing demand for AI chips. Intel's results confirmed robust demand for AI chips heading into Nvidia's earnings report next month.
Nvidia stock rose 4.9% after Intel's Q1 earnings report. Intel's sales grew 7% year over year to $13.6 billion, beating expectations of $12.4 billion, and are projected to grow another 5% sequentially in Q2. Nvidia's GPU chips are the standard for AI chips powering large language models. Intel's results alleviated concerns about slowing demand for AI chips. Nvidia's earnings growth is projected at 40% over the next five years. Nvidia's stock has risen 650% over the past three years.
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