Rick Wilking/Reuters
- Nvidia tacked on another $28 billion in value after smashing through expectations in its latest earnings report.
- The company's third-quarter revenue soared 206% year over year to $18.1 billion.
- That could be a sign Wall Street's excitement for artificial intelligence is far from over.
Nvidia added to its market value Wednesday after crushing expectations in the third-quarter earnings report, a sign that Wall Street's hype for generative AI may be nowhere close to ending.
Shares of the chipmaker rose as much as 2.3% in early trading, touching $501. That represents around $28 billion briefly added to the market cap, which totaled $1.2 trillion yesterday at the closing bell. The stock later pared gains.
Revenue soared 206% to $18.1 billion, topping Wall Street estimates for $16.1 billion. Earnings per share clocked in at $4.02, blowing past the expected $3.39.