Nvidia predicts quarterly revenue higher than expected, announces stock split

Nvidia, the AI chipmaker, has once again exceeded expectations with its quarterly revenue forecast and stock split announcement. The company’s shares soared to a record high, surpassing the $1,000 mark and adding $140 billion in stock market value.

With a 90% surge in stock price this year, Nvidia continues to impress investors with its strong performance. The company’s decision to split its stock ten-for-one, effective on June 7, and raise its quarterly dividend by 150% further fueled excitement among shareholders.

CEO Jensen Huang revealed during a conference call that Nvidia’s upcoming Blackwell AI chips will begin shipping in the current fiscal quarter, with production ramping up in the following quarter. The high demand for these chips could potentially exceed supply well into next year.

Nvidia’s dominance in the AI chip market is evident, with sales at its data center segment growing by a staggering 427% in the first quarter. The company’s proprietary CUDA software framework and high-performance chips make it a key player in the AI computing space.

Analysts believe that Nvidia’s strong results will reassure the market about the continued growth in AI investment. The company’s forecast for the second quarter, with revenue expected to reach $28 billion, further solidifies its position as a leader in the industry.

Overall, Nvidia’s impressive performance and strategic moves have positioned it as a frontrunner in the AI chip market, with no signs of slowing down anytime soon.