Nvidia Stock Is Hitting New Highs Thursday: What's Going On?

Nvidia Corp NVDA shares are trading higher Thursday after the company reported better-than-expected quarterly results and issued strong guidance.

Q4 Earnings: Nvidia reported fourth-quarter revenue of $22.1 billion, which beat the consensus estimate of $20.62 billion. The company reported quarterly earnings of $5.16 per share, which beat estimates of $4.64 per share.

Total revenue was up 265%, data center revenue was up 409%, gaming revenue climbed 56%, professional visualization revenue increased 105% and automotive revenue declined 4% on a year-over-year basis.

"Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations," said Jensen Huang, founder and CEO of Nvidia.

"The year ahead will bring major new product cycles with exceptional innovations to help propel our industry forward."

Outlook: Nvidia guided first quarter of fiscal 2025 revenue of approximately $24 billion, plus or minus 2%, versus estimates of $22.16 billion. The company said it expects first-quarter non-GAAP gross margins of 77%.

On the conference call following the company’s quarterly results, Huang said the company has been unable to keep up with demand in the short term and noted that current conditions are excellent for continued growth.

The Nvidia CEO also laid out a vision for the future in which the company leverages AI by offering AI enterprise software to every enterprise in the world. Huang believes every software enterprise company that is deploying software will run on Nvidia AI enterprise software in the future.

Related Link: Jensen Huang Predicts Every Enterprise On The Planet Will Eventually Run On Nvidia’s ‘Operating System For AI’

NVDA Price Action: Nvidia shares are hitting new all-time highs on Thursday. The stock previously set an all-time high of $746.11 on Feb. 12. Nvidia shares were up 12.8% at $760.80 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Nvidia.