The expectations were big for NVDA results, and the company beat them. Revenues grew a mindblowing 268% vs same quarter last year and Net income grew 628% vs the same period. NVDA is the poster child of the AI revolution, similar to what CSCO systems was for the internet revolution. The implications of these results go beyond the performance of the company: the whole market is dependent of a handful of stocks that are betting big on AI. And the US economy is using AI as the white knight that can fight inflation and solve the debt problem through an incredible leap forward in productivity. Having said that, the pressure keeps mounting; NVDAs P/E is 79. At what point will valuations matter?
Nvidia beat earnings once again