Diamonds and Dogs
Nvidia (NVDA) led rally. The AI chipmaker is up over 25% following earnings and strong guidance. Nvidia forecasted a huge jump in revenue, signaling how vastly the broadening use of artificial intelligence could reshape the tech sector. The California company is close to joining the exclusive club of $1 trillion companies like Alphabet, Apple and Microsoft, after shares jumped 25% in early trading. Former chip giant, Intel is down 7% as they get left behind.
No snow in the air. Cloud software firm, Snowflake (SNOW is down 30% following earnings. Earnings were actually good beating number while revenues rose 47.6% to $623.6 million, management lowered guidance as they noticed a slowdown in demand after Easter then accelerated through the quarter. Snowflake had no reason for the slowdown. Maybe Snowflake needs a better AI strategy.
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