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Odds on Nvidia Stock Price as AI Shares Shatter Records

Written by:

Aaron Goldstein

Published on:

Feb/22/2024

AI is here and that became abundantly clear on Wednesday as shares in one of the world's largest suppliers of artificial intelligence (AI) hardware and software hit an all-time high.

The company's value has skyrocketed over the last year, its revenue more than trippling over that period.

Nvidia reported revenue for its fiscal fourth quarter that ended Jan. 28 of $22.1 billion, up from $6.05 billion.

The company based in Santa Clara, California, earned $12.29 billion, compared to a profit of $1.41 billion a year ago.

Adjusted for one-time items, Nvidia earned $5.16 a share in the latest quarter, that topped Wall Street forecasts for $4.59 per share, based on analysts surveyed by FactSet Research.

Nvidia has been the primary beneficiary of the recent technology industry obsession with large artificial intelligence models.

“Strong demand was driven by enterprise software and consumer internet applications, and multiple industry verticals including automotive, financial services and health care,” the company said in commentary provided to investors.

“Fundamentally, the conditions are excellent for continued growth” in 2025 and beyond, Nvidia CEO Jensen Huang told analysts while addressing fears that the company would be unable to sustain such explosive growth.

BetOnline was expected to begin offering odds on the Over/Under share price for Nvidia by year's end 2024.

Currently, the worldwide betting firm offers odds on such things as oil and gas closing price the end of February, price closings on various cryptocurrencies including bitcoin, the name of the new Fox, ESPN, Time Warner sports streaming service, theFerrari Auction, the COPA vs. Dr. Craig Wright trial outcome and the next cryptocurrency exchange to file bankruptcy, as well as the daily stock market closing Over/Unders.

- Aaron Goldstein, Gambling911.com

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