3 Reasons Besides Q3 Data Center Success to Buy NVIDIA Stock [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
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Source: Yahoo! Finance
Amid the recent data center success, NVIDIA stock remains attractively priced, exhibits a bullish trend, and is fundamentally strong, making it a good buy for investors. Let's see in detail – NVIDIA recently reported fiscal third-quarter results, in which its revenues jumped 94% to $35.1 billion from the same period a year ago. Earnings per share (EPS) came in at $0.81, up 103% from a year ago. The company's revenues exceeded Wall Street expectations due to record gains from the data center business. Third-quarter revenues from the data center came in at $30.8 billion, up 112% from a year ago. CEO Jensen Huang admitted that demand for its Superchips and related hardware was robust, particularly for its present Hopper chips. Huang expects continued high demand for Hopper chips into next year. The advanced H200 chips will be available in several cloud services, such as Azure, Google Cloud and AWS. Beyond big tech cloud operators, Denmark launched its AI supercomputer driven by
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