By George Glover
Nvidia stock was rising on Thursday, with just a handful of sessions left until the chip maker reports earnings that should underline appetite for artificial intelligence demand.
Shares rose 0.8% to $132.86 in early trading. Futures tracking the benchmark S&P 500 were up 0.2%.
Nvidia is set to report its first-quarter earnings after next Wednesday's closing bell. The company's results have become a must-see event in recent years, with sales of its graphics processing units tending to be a good barometer of broader AI demand.
Oppenheimer analyst Rick Schafer said in a research note published late Wednesday that he was expecting "upside results and a roughly in-line July-quarter outlook, despite the loss of the loss of H20 sales to China following U.S. government restrictions." Nvidia CEO Jensen Huang has slammed Washington's chip curbs, designed to stop Beijing from getting its hands on the company's advanced AI chips, this week.
Schafer said the stock remained "best-positioned in AI." He rates shares at Outperform, with a $175 price target that implies they have upside of 33%.
Other chip maker stocks were also rising on Thursday. Advanced Micro Devices climbed 0.5%, Intel gained 0.9%, and Qualcomm added 0.5%.
Write to George Glover at george.glover@dowjones.com
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May 22, 2025 05:12 ET (09:12 GMT)
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