Micron and Broadcom Stocks Rise After Nvidia’s Blowout Results
Shares of chip makers are getting a bounce from Nvidia’s quarterly results, which blew past Wall Street expectations after the market close yesterday.
Broadcom shares were up around 2.5% in premarket trading, while Micron’s stock was up 2% and Advanced Micro Devices gained 1%. Nvidia, meanwhile, was up over 6%.
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Micron and Broadcom Stocks Rise After Nvidia's Blowout Results, via WSJ#micron #broadcom #ai #stockshttps://t.co/jtkmWKfVdG
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The gains come after surging demand for artificial intelligence chips drove Nvidia’s revenue to $13.5 billion in the second quarter. For the current quarter, the company expects revenue of about $16 billion.
Shares of other companies expected to benefit from growth in AI also rose premarket. For example, data analytics company Palantir gained 3%.
