By George Glover
Nvidia stock was edging higher ahead of Friday's opening bell, after results from a rival chip maker showed that artificial-intelligence demand remains robust.
Shares were up 0.1% to $140.16 ahead of the opening bell. Futures tracking the benchmark S&P 500 climbed 0.3%.
Nvidia peer Broadcom reported earnings for its fiscal second quarter after Thursday's close, topping Wall Street's profit and revenue targets and issuing better-than-expected guidance. Investors were likely hoping for perfection, rather than a mere beat-and-raise, given that Broadcom trades at a lofty valuation. Its stock slipped 3.8% ahead of Friday's opening bell.
While the results aren't a game-changer, they should be solid enough for Nvidia. Broadcom forecast that its AI revenue will grow 60% over the current fiscal year, and J.P. Morgan analyst Harlan Sur said in a note that the chip maker's earnings underlined "sustained strong AI fundamentals."
Other chip-making stocks were also rising on Friday. Advanced Micro Devices ticked up 0.2%, Intel added 0.5%, and Qualcomm gained 0.6%.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 06, 2025 05:25 ET (09:25 GMT)
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