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Nvidia Q1 Results Prove AI Revolution Is 'Real' And Jensen Huang-Led Company Is The 'Beneficiary,' Says Analyst
AI powerhouse Nvidia Corp. (NASDAQ:NVDA) did not disappoint with its quarterly results, which were released Wednesday after the market close. Following the earnings release, most Street analysts doubled down on their bullishness.
Encouraging Results: Key Banc Capital Markets analyst John Vinh, who has an Overweight rating on the stocks, said the first-quarter results and the second-quarter guidance were meaningfully above expectations. The upside came primarily from the Data Center business, which reported year-over-year revenue growth of 427%, he said. Strength was also evident in the enterprise, consumer internet, and cloud customers (45% of revenue), he added.
Within the enterprise, auto companies such as Tesla are expected to be the largest ...