Nvidia Soars on Strong Earnings and Outlook, Lifting Other AI Stocks; Markets Pare Losses After Fed Minutes Underscore Inflation Focus
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Nvidia reported booming earnings and guidance, lifting its stock and other AI plays like AMD, ARM, Palantir, and Microsoft after hours.
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The stock market rally retreated Wednesday but pared losses in the final hour. Palo Alto's weak guidance hit cybersecurity names.
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Fed meeting minutes underscored policymakers' focus on persistent inflation before considering rate cuts.
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Nvidia guided fiscal Q1 revenue to $24 billion vs $21.1 billion views after earnings skyrocketed. Its stock jumped late.
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Synopsys, Rivian, Lucid and Tesla also reported earnings. Rivian and Lucid shares fell on weak production outlooks.