Nvidia (NASDAQ:NVDA) and its semiconductor peers gained on Wednesday after Oracle’s (NYSE:ORCL) upbeat quarterly results and strong cloud guidance signaled surging artificial intelligence infrastructure demand that could boost graphics processing unit sales.
Investors were reminded of Nvidia’s breakout performance in May 2023, when the company forecast $11 billion in quarterly revenue, 53% above Wall Street estimates, kicking off multiple quarters of soaring sales and profits. However, the latest results indicate that growth is starting to decelerate.
