Nvidia Gets a Big Lift From AI Projects; Microsoft Buys a Game-Streaming Firm

Nvidia rises to new highs after beating estimates and issuing strong guidance If one needed fresh evidence that sales of server graphics cards for artificial intelligence/deep learning projects have become a big part of Nvidia’s (NVDA) growth story, the company provided it on Thursday afternoon. The GPU giant easily beat fiscal first-quarter estimates, with revenue rising 24% annually (improved from 13% in the fourth quarter) to $1.43 billion and adjusted EPS jumping to 53 cents from 34 cents a year ago. Nvidia also guided for second-quarter revenue $1.68 billion (plus or minus 2%), far above a consensus analyst estimate of $1.45 billion and implying 29% annual growth at the midpoint. Shares were up over 2% after hours to new highs; the fact Nvidia was already up 81% in 2016 going into earnings…


Link to Full Article: Nvidia Gets a Big Lift From AI Projects; Microsoft Buys a Game-Streaming Firm