An excerpt from the article posted earlier. Can you imagine the...

An excerpt from the article posted earlier. Can you imagine the interest in BRN had it been NASDAQ listed?


Daniel Howley

·Technology Editor

Thu, 24 August 2023 at 4:26 am AWST·3-min read

Nvidia (NVDA) reported second quarter earnings after the bell Wednesday that blew away already sky-high expectations for the graphics chip giant as the AI hype train keeps pushing markets forward.

The company reported revenue of $13.51 billion, a 101% jump from last year, while adjusted earnings came in at $2.70 per share, up 429% from last year. Analysts had expected revenue to come in at $11.04 billion with earnings per share totaled $2.07, according to data from Bloomberg.

Nvidia also issued current quarter revenue guidance of $16 billion, plus or minus 2%, far outpacing Wall Street's already lofty expectations for $12.5 billion in revenue.

Shares of the graphics chipmaker rose as much as 9% in after-hours trading on Wednesday to a record high of $515 per share.

Nvidia's report had been seen as a key test for the ongoing AI hype cycle, which has pushed companies of all stripes to dive into the technology in hopes of cashing in on the mania. But none has seen the actual fortunes of their business change to extent already being enjoyed by Nvidia.

"A new computing era has begun," Nvidia CEO Jensen Huang said in a statement.

"Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI."