NVIDIA's profits exceed expectations – boosting stock market and AI tokens | CoinDesk JAPAN

US semiconductor giant Nvidia announced its fourth quarter financial results on the 21st. Big profits were expected, but the actual profits were even bigger than expected. This boosted the stock market and artificial intelligence (AI)-related crypto assets (virtual currencies).

Nvidia reported fourth-quarter earnings per share of $5.16 (approximately 770 yen, at an exchange rate of 150 yen to the dollar), which was higher than the average analyst estimate, according to FactSet data. That's above $4.59 per share. Revenue also hit $22.1 billion (approximately 3.315 trillion yen), exceeding Wall Street's forecast of $20.4 billion.

Nvidia also expects first-quarter revenue of $24 billion (approximately 3 trillion yen), higher than analysts' expectations of $22.2 billion.

“Accelerated computing and generative AI have reached a tipping point, with demand surging globally across companies, industries and countries,” said Jensen Huang, Founder and CEO of NVIDIA. ” he said.

Following the news of Nvidia's breakthrough, AI (artificial intelligence) related crypto assets such as Ocean (OCEAN), Render Token (RNDR), and Fetch AI (FET) also rose.

Nvidia's stock price, which has driven the AI ​​revolution, soared more than 200% last year. Its market capitalization at one point reached nearly $1.7 trillion (approximately 255 trillion yen), surpassing technology giants Amazon and Google. The rally was so hot that Goldman Sachs even called Nvidia “the most important stock on the planet.”

Nvidia stock rose nearly 7% in aftermarket trading on the 21st. Meanwhile, S&P 500 futures rose slightly, and Bitcoin (BTC) fell 1.8%.

｜Translation and editing: Rinan Hayashi
｜Image: Shutterstock
｜Original text: Nvidia's Earnings Beat Estimates, Boosting Broader Market and AI Tokens