From Morningstar: 2024-08-29 05:43:00

Nvidia reported strong fiscal second-quarter results and forecast, exceeding expectations. The company benefits from high demand for GPUs used in data centers for artificial intelligence. While the earnings beat wasn’t as significant as before, Nvidia’s revenue grew 122% year over year to $30 billion, with expectations of $32.5 billion in the next quarter.

The company’s fair value estimate stands at $105 per share, with a wide economic moat rating from Morningstar. Nvidia plans to see continued growth in data center revenue, with anticipation of earning billions from next-generation products. They remain a leader in GPUs for AI training and aim to increase market share in AI inference.



Read more at Morningstar: Nvidia Earnings: No Sign of an AI Slowdown