On Wednesday, Nvidia Corp. (NASDAQ: NVDA), a top provider of AI software and hardware, announced its first-quarter fiscal 2025 earnings.
The company reported $26 billion in revenue for the quarter, marking an 18 percent increase from the previous quarter and a substantial 256 percent rise compared to the same period last year.
Nvidia (NVDA) Reports Strong Growth and Stock Performance
Nvidia Corp. (NASDAQ: NVDA) announced impressive financial results for the first quarter of fiscal 2025. The company’s total revenue reached $26 billion, marking an 18 percent increase from the previous quarter and a remarkable 256 percent surge year-over-year. Particularly, the data center segment showed outstanding growth, achieving $22.6 billion in revenue, up 23 percent from the prior quarter and over 420 percent compared to the same period last year.
In response to its robust performance, Nvidia has increased its quarterly cash dividend by 150 percent to $0.01 per share following a ten-for-one stock split. This news bolstered investor confidence, leading NVDA stock to surge over 6 percent in Wednesday’s after-hours trading, reaching approximately $1,007 per share. Year-to-date, Nvidia stock has seen an impressive rally of over 91 percent, reflecting strong market optimism and investor interest in the company’s growth prospects.
BREAKING: Nvidia stock, $NVDA, surges toward $1,000/share after reporting earnings and 10:1 stock split.
The company posted record quarterly revenue of $26 billion on EPS of $6.12, both above expectations.
This marks a 260% jump in year-over-year revenue for the 3rd largest… pic.twitter.com/FcJElzKjCs
— The Kobeissi Letter (@KobeissiLetter) May 22, 2024
Surge in AI Crypto Projects Boosted by Nvidia’s Market Growth
In recent quarters, AI crypto projects have seen significant gains due to Nvidia’s strong performance in the stock market. The AI crypto industry now boasts a market cap of approximately $35.4 billion, with a daily average traded volume of about $2.2 billion, according to the latest market data.
Leading AI-focused crypto projects include Fetch.ai (FET), Render (RNDR), The Graph (GRT), Bittensor (TAO), and SingularityNET (AGIX), among others.
🐳 Whale activity has been high among the #AI sector, and #Render has been no exception. A known whale sent 4.89M $RNDR (worth $52.1M) to an unknown wallet earlier today as prices corrected. Those holding this asset should watch for increased volatility. https://t.co/AIKq9INw1M pic.twitter.com/EG1Rd1HhcA
— Santiment (@santimentfeed) May 23, 2024
Recent data from market intelligence platform Santiment highlights increased whale activity in the AI-crypto sectors, particularly driven by Render (RNDR). A notable RNDR whale recently transferred 4.89 million units valued at over $52 million to an unknown wallet address.
Following this activity, RNDR’s daily traded average volume surged by more than 107 percent to approximately $836 million during Thursday’s early Asia session. This spike underscores growing investor interest and trading activity in RNDR and other AI crypto assets amid Nvidia’s market influence.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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