Nvidia (NVDA) saw its stock climb 6% in premarket trading on Thursday after reporting a record-breaking first-quarter revenue that exceeded Wall Street expectations. The surge in sales comes even as the chipmaker acknowledged a significant setback—billions in lost revenue—due to U.S. export restrictions on its most advanced chips destined for China.
Despite these regulatory hurdles, Nvidia’s latest product lineup continues to see rising demand. Analysts at JPMorgan noted that the strong performance signals a positive outlook for server manufacturers such as Dell Technologies (DELL) and Hewlett Packard Enterprise (HPE), who rely heavily on Nvidia’s new Blackwell platform chips. Dell is set to release its earnings later Thursday, while HPE will report next Tuesday.
CEO Jensen Huang is scheduled to speak at an upcoming industry event and will address investors again at Nvidia’s annual investor day on June 25. Ahead of Thursday’s market open, Nvidia shares were trading at $142.81, poised for their highest opening since late January.
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News Source: InvestoPedia.com
