Nvidia’s stock is popping
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Nvidia President and CEO Jensen Huang plans to sell more than $800 million of stock through planned transactions this year. On March 20, he adopted a so-called Rule 10b5-1 plan to sell 6 million Nvidia shares,
Nvidia results pleased investors and eased fears over China tariffs and separately a court ruled President Trump’s tariffs are illegal with the White House vowing to appeal and Elon Musk is officially done with DOGE.
Nvidia reported a record $44.1 billion in overall revenue, compared to expectations of $43.3 billion. It also guided investors for $45 billion in fiscal second-quarter sales, even with an expected $8 billion in lost revenue from China sales due to export restrictions. Analysts had penciled in guidance for $45.9 billion.
Share prices for Big Tech’s Magnificent Seven and major chipmakers rose on Thursday after a wave of welcome news for investors.
Nvidia stock rose on Thursday after a solid earnings report, but Microsoft managed to hold on to the title of largest U.S. company by market value. Nvidia briefly took the crown as the world's largest company by market cap during afternoon trading,
Nvidia's results were much better than they might seem at first glance. Both the top and bottom lines were hurt by new U.S. government export controls on the company's H20 chip, which it had specifically designed for the Chinese market to comply with the government's second round of advanced AI chip export controls.
Earnings helped lift the chip maker’s shares 3.2% Thursday.
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Stocks worldwide are rising after a U.S. court blocked many of President Donald Trump’s sweeping tariffs. The S&P 500 rose 0.7% Thursday.
Nvidia’s first-quarter earnings top Wall Street estimates as data-center revenue surges 73%, HP Inc. tumbles after cutting its fiscal-year outlook, and Tesla rises as CEO Elon Musk ends his work for the Trump administration.