This Chip Stock Could Redefine the AI Revolution

For the last couple of years, the semiconductor industry has battled its share of challenges. From supply chain disruptions to chip shortages, companies like Nvidia (NASDAQ: NVDA) have seen better days. Well folks, things may have just turned around.

Nvidia reported financial results for its first quarter and the stock went absolutely bonkers, jumping 24% in a single day. There is a lot to unpack from the earnings report. Let's get to it.

For Nvidia's first quarter ended April 30, the company posted total revenue of $7.2 billion, which represented a decline of 13% year over year. While data center revenue increased 14% year over year, reaching a record of $4.3 billion, the company's gaming segment declined a whopping 38% from the prior year. One thing to point out about Nvidia's all-time record in data center business is that its competition, namely Advanced Micro Devices, saw flat growth from its data center division during Q1. 

Continue reading

Source Fool.com