Nvidia's AI Forecast Sparks Stock Rally

Nvidia Corp. had good results. People are buying a lot of chips for artificial intelligence. Other stocks connected to this tech also went up.

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A fund that follows semiconductor makers rose 3% after market on Wednesday. Advanced Micro Devices, a competitor of Nvidia, increased by 10%, while Taiwan Semiconductor Manufacturing Co., which creates Nvidia's chips, went up 8%.

People investing money wanted to see if Nvidia's sales of computer chips were increasing due to the buzz around artificial intelligence. And they did - Nvidia's predictions for revenue this quarter were much higher than what analysts had expected.

Nvidia is doing well. Its AI projections have exceeded expectations. This has caused Nvidia's stock to rise. Investors are happy. Everyone wants to know more.

Adam Crisafulli, founder of Vital Knowledge newsletter, said that Nvidia has given strong guidance, which supports the idea that this tech company is at the center of a significant transitioning period.

Microsoft and Google went up by 2%. They did well because they're using AI tools more in their products. C3.ai and Palantir also went up, by more than 6%. They're companies that make software.

On Wednesday, Nvidia's trading boosted up to 29%. This means the company could break its previous record if the gains continue.

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