Nvidia Shares Rise on Strong Earnings and Datacenter Growth

Nvidia's shares rose on an upbeat outlook from the company after its quarterly earnings report. The chipmaker reported better-than-expected revenue and adjusted earnings per share for Q4 2023.

The company's revenue came in at $8.7 billion, beating estimates of $8.1 billion. Adjusted EPS was $2.71, exceeding expectations of $2.45. Nvidia's datacenter business drove the growth, with revenue increasing by 61% year-over-year.

Nvidia's CEO Jensen Huang stated that 'the demand for our products is strong and we are well-positioned to take advantage of this trend.'