Nvidia shares have nearly tripled in value this year, swelling the company s market valuation by more than $700 billion and making it the first trillion-dollar chip firm. The blistering rally in its shares means that Nvidia has little room for any earnings-related disappointment and anything other than a higher-than-expected forecast could trigger a rout in its stock, some analysts have warned.
Market conditions remain mixed depending on the type of chips. SK Hynix said on Wednesday it would cut more production of its NAND Flash chips used for data storage because of high inventories and low profitability amid a fall in the average sales price.
BW Businessworld
China s Baidu Beats Revenue Estimates On Strong Cloud, AI Demand
Its total revenue rose 5% to 30.26 billion yuan ($4.69 billion) in the fourth quarter, topping analysts average estimate of 30.06 billion yuan
Photo Credit :
China s Baidu Inc reported quarterly revenue above Wall Street expectations on Wednesday, helped by a recovery in advertising and an uptick in demand for its cloud services and artificial intelligence platforms.
The results come as Baidu beefs up its autonomous and smart transport technology to tap into the fast-growing electric-vehicle market and diversify revenue sources. Last month, it said it would set up a smart electric vehicle (EV) company with Geely.