Nvidia Stock Surges After Hours: What's Going On?

NVIDIA Corp (NASDAQ:NVDA) shares are rising in extended trading Wednesday following strong earnings from Microsoft Corp (NASDAQ:MSFT) and Meta Platforms Inc (NASDAQ:META).What Happened: Microsoft beat analyst estimates for the third quarter on the top and bottom lines, driven by strong Azure and cloud services growth. Total Microsoft cloud revenue came in at $42.4 billion, up 20% year-over-year. Azure and other cloud services revenue increased 33% year-over-year, suggesting that the company’s heavy AI investments are paying off. “Cloud and AI are the essential inputs for ...Full story available on Benzinga.com

NVIDIA Corp NVDA shares are rising in extended trading Wednesday following strong earnings from Microsoft Corp MSFT and Meta Platforms Inc META . What Happened: Microsoft beat analyst estimates for the third quarter on the top and bottom lines, driven by strong Azure and cloud services growth . Total Microsoft cloud revenue came in at $42.

4 billion, up 20% year-over-year. Azure and other cloud services revenue increased 33% year-over-year, suggesting that the company’s heavy AI investments are paying off. “Cloud and AI are the essential inputs for every business to expand output, reduce costs, and accelerate growth,” said Satya Nadella , chairman and CEO of Microsoft.

Meta also reported strong quarterly results after the bell and raised its full-year capital expenditures outlook to a range of $64 billion to $72 billion, up from prior guidance of $60 to $65 billion. The company attributed the higher forecast to increased AI investments, reassuring investors that the AI trade is still alive. Nvidia is leading a pack of AI-related names higher after the bell as investor sentiment surrounding AI names appears to have gotten a boost from the mega-cap reports.

Both Microsoft and Meta are significant players in AI and cloud computing, which appears to have reinforced confidence in the sector. Nvidia scheduled its first-quarter financial results after the close on Wednesday. The company is now set to report earnings after the market close on May 28.

Analysts are anticipating earnings of 88 cents per share on revenue of $43.07 billion, according to estimates from Benzinga Pro . NVDA Price Action: Nvidia shares were up 4.

52% after-hours, trading at $113.75 at the time of publication on Wednesday, per Benzinga Pro data. Read Next: Amazon Stock Is Rising After The Bell: What’s Driving The Action? Photo: Hepha1st0s/Shutterstock.

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