• Nvidia reported first-quarter earnings for its fiscal 2024 on Wednesday, with a stronger-than-expected forecast that drove shares up 26% in extended trading.
• Nvidia said it expected sales of about $11 billion, plus or minus 2%, in the current quarter, more than 50% higher than Wall Street estimates of $7.15 billion.
• Prior to the after-hours move, Nvidia stock was up 109% so far in 2023, mostly driven by optimism stemming from the company’s leading position in the market for artificial intelligence chips.

Tagged: Economy