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HomeBusinessAI and semiconductor stocks rise on Nvidia's strong earnings.

AI and semiconductor stocks rise on Nvidia’s strong earnings.

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Shares of server component supplier Super Micro Computer rose 11.42% in after-hours trading, influenced by the positive activity in the semiconductor market following Nvidia’s earnings report. Dutch chip equipment manufacturer ASML and the U.K. chip designer Arm Holdings also experienced significant gains during after-hours trading. The surge in the stock prices of these companies was attributed to the success of Nvidia, who designs AI chips for various tech giants such as Amazon, Microsoft, and Google, as well as the high demand for their graphics processing units due to the AI boom.

OpenAI’s ChatGPT, which gained worldwide popularity for its human-like response-generating ability, is one of the projects that relies on thousands of Nvidia’s GPUs. As a result, Nvidia shares saw a 9% increase in extended trading. The impact also resonated globally, with South Korea’s Samsung Electronics, SK Hynix, and other Taiwanese semiconductor firms experiencing significant gains the next day. Nvidia CEO Jensen Huang expressed optimism for continued growth in the company, citing the high demand for Nvidia GPUs and the industry’s shift towards accelerators. In addition, Gene Munster, managing partner at Deepwater Asset Management, predicted that Nvidia’s market share and margins will be a source of surprise for investors moving forward.

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