PARIS (Reuters) – US stock markets are hesitating on Thursday at the opening while the Nasdaq, very exposed to technology stocks, is carried by the results much better than expected from Nvidia.
In early trading, the Dow Jones index stagnated at 34,476.67 points and the broader Standard & Poor’s 500 rose 0.42% to 4,454.63 points. The Nasdaq Composite takes 0.83% or 113.28 points, to 13,834.31 points.
Nvidia surprised the markets and analysts by publishing results well above the consensus, which was counting on a turnover of 12.61 billion dollars in the third quarter.
The craze for artificial intelligence (AI), the development of which is based almost exclusively on microprocessors manufactured by Nvidia, has caused the group’s turnover to soar to 16 billion dollars, announced this last Wednesday, after fence.
Moreover, the imbalance between supply and demand is such that AI should continue to support the group’s results over the coming quarters.
Technology and AI-related stocks are rising in the wake of the chipmaker, which particularly benefits the Nasdaq, which is very exposed to “tech”.
On the value side, Nvidia gained 5.59% to 497.48 dollars at the opening, a new price record. Shares of technology groups linked to AI rose in the wake of Nvidia’s results. Microsoft climbed 1.72%, against 1.67% for Meta Platforms and 1.16% for Alphabet.
(Writing by Corentin Chapron, editing by Kate Entringer)
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