Nvidia was rising early on Tuesday. The chip maker’s pivotal role in the artificial-intelligence market was underlined by earnings from software company Oracle.
Nvidia shares were up 3.2% at $885.49 in early trading.
Nvidia stock closed down 2.0% at $857.74 on Monday. That left the company valued at $2.19 trillion overall.
The…
was rising early on Tuesday. The chip maker’s pivotal role in the artificial-intelligence market was underlined by earnings from software company
Oracle
.
shares were up 3.2% at $885.49 in early trading.
Nvidia stock closed down 2.0% at $857.74 on Monday. That left the company valued at $2.19 trillion overall.
The strong market for Nvidia’s graphics-processing units was emphasized by enterprise-software giant
in the latter company’s own earnings report after the market close on Monday. Oracle signed a new cloud-computing infrastructure deal with Nvidia in its latest quarter and said it plans to boost capital spending in the next fiscal year, suggesting sustained demand for AI chips.
The next major catalyst for Nvidia is likely to be its
developers’ event, which kicks off on March 18.
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“We expect to have some very nice joint announcements with Nvidia next week,” Oracle CEO Safra Catz told analysts on an earnings call late Tuesday.
The statements should relieve concerns that shortages in chip supply from Nvidia are causing customers such as Oracle to turn to rivals, such as
AMD was up 0.2% in early trading and
was rising 0.3%.
Nvidia shares have risen 73% so far this year through to Tuesday’s close. That compares with a 7.3% rise in the
index and a 6.7% rise in the
over the same period.
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Write to Adam Clark at adam.clark@barrons.com
