2023-08-23 15:09:27
High performance chips from Nvidia
The upcoming quarterly figures from the US chipmaker could set the direction for technology stocks.
(Photo: Reuters)
Frankfurt With all the anticipation, how big can the surprise be at the end? On Wednesday morning, the excitement surrounding the upcoming quarterly figures from Nvidia was at least enough to drive the leading German index, the Dax. Traders attributed the plus of 0.6 percent by midday to the expectations of the data from the company, which increasingly earns its money with high-performance chips required for demanding applications in the field of artificial intelligence (AI).
Nvidia has forecast sales for the second quarter more than 50 percent above analysts’ expectations thanks to strong demand for computing capacity for AI. Investors are now hoping that the forthcoming numbers will be even stronger. “In view of the unbroken AI hype, the chip manufacturer’s earnings report is of particular importance,” said Thomas Altmann, portfolio manager at asset manager QC Partners, to the Reuters news agency.
>> Read here: Chip makers chasing $120 billion market
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