On Thursday afternoon, the Dow Jones Industrial Average had soared more than 570 points. Strong earnings from Nvidia (NVDA-3.25%), which briefly hit a 52-week high of $152.89 per share earlier in the day. On the other hand, super microcomputers (SMCI+11.80%) rose more than 14% after Nvidia mentioned its partners in Wednesday’s earnings call.
under consideration Super Micro’s previous accounting issues; Investors may be reassured that the partnership is strong enough to pick up the company. As a reseller of Nvidia GPUs and other components, Super Micro incorporates Nvidia technology into its servers to support AI workloads. The two companies have a long-standing relationship, and both CEOs Charles Liang of Super Micro and Jensen Huang of Nvidia are immigrants from Taiwan.
In the afternoon, the Dow Jones Industrial Average rose 572 points, or 1.3%. Meanwhile, the tech-heavy Nasdaq and S&P 500 rose 0.15% and 0.6%, respectively. The Russell 2000 Index, considered a barometer of small and medium-sized companies, rose more than 1%.
Nvidia hits new 52-week high
Nvidia’s (NVDA-3.25% The stock hit a 52-week high early Thursday, fell a few hours later, but then rose again. Chip maker’s earnings for the quarter Sales ended October, up 17% from $30 billion in the previous quarter. Nvidia reported net income of $19.3 billion and earnings per share (EPS) of $0.78. The company’s quarterly data center revenue was $30.8 billion, up 17% sequentially and 112% year over year. Nvidia CEO Jensen Huang said the company’s Blackwell chips were a major contributor to revenue growth.
Bitcoin is about to reach $100,000
Bitcoin’s Rise Shows No Signs of Slowing Down Major cryptocurrencies soar above $98,000 To update the all-time high. According to data from cryptocurrency tracking platforms CoinGeckoBitcoin reached $98,310 on Thursday. This rise is Bitcoin ETF (Exchange Traded Fund) Options Earlier this week, it was a landmark moment for the crypto industry.
– Britney Nguyen contributed article
