Nvidia shares hit record high as AI demand fuels record results
Reuters
Reuters reported shares of Nvidia (NVDA.O) rose as much as 6.7% on Thursday, hitting an all-time high, after the company unveiled a $25 billion stock buyback plan and record quarterly revenue powered by strong demand for its artificial intelligence (AI)-focused chips. Nvidia closed up 0.12% at $471.74 the day after the company beat analyst expectations when it reported second-quarter revenue of $13.51 billion after the bell, and predicted revenue would reach $16 billion in the third quarter.
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