Nvidia’s blowout profit report drives Wall Street rebound

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Nvidia, whose chipmaking prowess has made it an icon of the artificial intelligence boom, reported that its net income in the first quarter rose sevenfold to $14.88 billion.

Wall Street rebounded in off-hours trading Thursday, pulled higher by technology companies after chipmaker Nvidia posted another huge profit after the bell a day earlier.

Nvidia’s performance also boosted chipmakers Micron and Advanced Micro Devices, which rose 4% and 3% respectively. Elsewhere, in Europe at midday, France’s CAC 40 and Germany’s DAX climbed 0.4%, while Britain’s FTSE 100 was unchanged.Taiwan’s Taiex hit a record high, gaining 0.3% to close at 21,607.43.

Chinese shares fell back as investors questioned whether a fresh flurry of policies to help the troubled property sector will suffice to end the industry’s crisis. Hong Kong’s Hang Seng slipped 1.7% to 18,868.71, while the Shanghai Composite shed 1.3% to 3,116.39.

Source: Tech Daily Report (techdailyreport.net)

 

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