Nvidia shares soar to an all-time high; eyes Micron earnings for next cues
The rally was partly driven by market anticipation ahead of Micron Technology's quarterly earnings, due after market hours. Micron manufactures high-bandwidth memory (HBM) chips, a key component in Nvidia's advanced AI accelerators.
Strong results from Micron are expected to signal continued demand across the AI hardware supply chain, further reinforcing Nvidia's bullish outlook.
Beyond hardware, Nvidia's growth is being propelled by its expanding software and cloud services business.
Its DGX Cloud platform — which allows organisations to run large-scale AI workloads on Nvidia's infrastructure — has seen adoption across industries such as healthcare, finance, and manufacturing. This marks a strategic shift, positioning Nvidia as not just a chipmaker but a full-stack AI solutions provider.
Investor optimism has remained strong since Nvidia's impressive first-quarter earnings in late May, which beat analyst estimates and highlighted robust revenue growth.
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The company's performance remains resilient despite geopolitical headwinds, including US export restrictions on chip sales to China, once a major market.
The focus now turns to Micron's earnings, expected to provide broader insight into the strength and sustainability of the AI hardware boom.
Earlier this month, Nvidia briefly became the world's most valuable publicly listed company, overtaking Microsoft. It has been trading market-cap leadership with Microsoft and Apple since mid-2023. The latest surge reestablishes Nvidia's dominance, underscoring its rapid ascent as a key force in the AI revolution.
As global demand for AI infrastructure continues to rise, Nvidia's position at the heart of the technology ecosystem appears increasingly unshakable.
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