Chip giant NVIDIA announced its fourth-quarter financial results after the U.S. stock market closed on Wednesday, with revenue reaching $22.1 billion, higher than analysts’ expectations, which drove the stock price to surge 9% after hours. The AI concept coins also rose in response to the news.
(Previous summary:
Is NVIDIA’s market value astonishing? The total market value of a Hong Kong-listed mainland company is $1.7 trillion, and Huang Renxun’s net worth of $2 trillion makes him the richest Chinese person.)
(Background supplement:
Why is the Japanese stock market surging to a 34-year high related to TSMC and NVIDIA’s Huang Renxun?)
The global financial market is closely watching the latest financial data of AI chip leader NVIDIA. After the U.S. stock market closed on the 21st and early morning on the 22nd in Taiwan, NVIDIA officially released its fourth-quarter financial report, showing that its revenue reached $22.1 billion, higher than analysts’ expected $20.4 billion, with a year-on-year growth rate of 265%. (Adjusted EPS: $5.16, better than the estimated $4.2)
This data highlights the significant progress of the company in the fields of computation and generative artificial intelligence. Huang Renxun, the CEO of NVIDIA, pointed out that this data symbolizes the strong global demand for AI technology. According to the financial report, NVIDIA’s data center business revenue grew significantly, with a year-on-year increase of 409%. In addition, the gaming, professional visualization, and automotive-related businesses also achieved steady growth.
NVIDIA’s stock price surged 9% after hours
After the impressive financial data came out, NVIDIA’s stock price also surged 9% after hours, reaching $735. The previous two days’ decline has been fully recovered.
AI concept coins rise together
On the other hand, as artificial intelligence has become a hot topic, “Blockchain + AI” has also become a track of interest for cryptocurrency market investors. According to Coingecko data, the current market value of tokens related to generative AI has exceeded $16.8 billion, and the top-ranked tokens have shown a general rise in the past 24 hours.
The top five AI concept coins by market cap increase are:
TAO: Bittensor’s native token, stable
RNDR: Useful token for the rendering network, up 7.9%
FET: Fetch.ai’s token, up 6.2%
AKT: Akash Network’s native token, up 11.3%
AGIX: SingularityNET platform token, up 20.5%
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