Stocks
Nvidia's Record Revenue Fuels AI Demand Optimism
Nvidia's latest results and revenue outlook have reinforced confidence in strong AI demand. The chipmaker reported record quarterly revenue of $96.2 billion, up 106% from a year earlier, beating Wall Street's estimate. CEO Jensen Huang stated that the global AI infrastructure buildout is 'at full steam'.
The company's gains also supported other AI-linked stocks and eased concerns about massive spending on data centers and AI infrastructure losing momentum. Despite this, investors remain cautious due to rising expectations for Federal Reserve rate hikes following a closely watched speech by Fed Chair Kevin Warsh at Jackson Hole.