Aug 24 - Frankfurt-listed shares of Nvidia jumped 8.7% on
Thursday, lifting tech shares around the world, after the
company forecast quarterly revenue that smashed.
Nvidia's shares rose to $510.14 in premarket trading, set to surpass a record high of $481.87 hit earlier this week. More than 20 brokerages raised their target price on Nvidia after the earnings, according to Refinitiv data, with Elazar Advisors being the most bullish at $1,600. Nvidia has been the biggest beneficiary of the rise of ChatGPT and other generative AI apps, virtually all of which are powered by its graphics processors.
More than 20 brokerages raised their target price for Nvidia post the earnings update, according to Refinitiv data, with Elazar Advisors being the most bullish at $1,600.