NVIDIA Corporation (NASDAQ:NVDA) was one of the stocks on Jim Cramer’s radar as he highlighted that semiconductor and AI infrastructure stocks are currently in charge.
Cramer was bullish on the company and its recently reported quarter as he said: … We talk hardware, the biggest part of that is the company just reported tonight that seems to not be able to get out of its own way right now, which is NVIDIA
Now, I’ve been pounding the table on NVIDIA since it was trading at a split-adjusted price of just under four bucks. I’ve never hidden my belief in the company and its team led by Jensen Huang. NVIDIA just reported after the close, delivering another steady set of numbers, revenue growing 85% year over year, $81.6 billion, beating expectations by nearly $3 billion.
Most of the growth came from the company’s core data center business, with hyperscale revenues up 115% versus the prior year and up sequentially, while AI cloud, industrial, and enterprise revenue grew 74% from the prior year. The company’s gross margins were in line. Oh, maybe people don’t like that.