Strong overall results from Nvidia and more artificial intelligence developments outweigh the chip stock's gaming center miss in its recent quarterly print, analysts say. The chipmaker on Wednesday posted better-than-expected quarterly results , driven by growth in its data center business that includes AI chips. CEO Jensen Huang added during a call with analysts that AI is at an "inflection point," leading businesses to purchase its chips for machine learning software.
mountain NVDA in 2023 Jefferies' Mark Lipacis noted that he views the company as one of the biggest beneficiaries from more enterprise AI spending going forward. For many analysts, including JPMorgan's Harlan Sur, Nvidia's results and guidance also seemed to confirm that a "gaming inventory correction is behind and the team is well-positioned for sustained growth acceleration.
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