The chip giant Nvidia opened trading today (Thursday) with a significant jump of 13%, after publishing last night its financial statements for the fourth quarter of the year (which ended at the end of January) – its highest daily increase since last November.

In that November, Nvidia reached a low in the share price, $112, and now the price is about $235 per share, an increase of about 110%. Investors express great interest in the stock and see it as a stable company in the field, mainly due to the company’s forecasts for the coming quarter, according to which it will record sales of 6.5 billion dollars – above analysts’ expectations.

Also, Nvidia reported revenues of $6.05 billion and an adjusted profit of 88 cents per share, above analysts’ forecasts in both cases, which investors especially appreciate against the backdrop of slow demand for personal computer chips and market damage in recent times.

The company’s gaming business is particularly dependent on the declining PC industry, and the company reported $1.83 billion in revenue last quarter in that segment. In this case too, it exceeded the forecasts, which were 1.6 billion dollars.

Among the main reasons that investors express interest in Nvidia is the use of its processors in the field of artificial intelligence, which has gained momentum in recent times. Investors want to be involved in trending uses like this, and Nvidia’s GPUs have been able to provide a good solution for graphics processing power. Its chips can process massive amounts of data and train software to make decisions. In other words – companies will need more powerful processors if they integrate artificial intelligence engines, which will increase orders for the company’s products.

In Bloomberg it was announced that nearly 20 analysts raised the target price of the stock, and in the investment bank Goldman Sachs they upgraded it to a “buy” recommendation following the strong reports and the optimistic forecast.

At the same time, the company’s revenues in the field of data centers, the sector that includes the uses of artificial intelligence, grew by 11% to 3.62 billion dollars, less than the average forecast of 3.86 billion dollars.

At the same time as the publication of the reports, Nvidia also announced its own AI cloud service: the company is collaborating with Microsoft, Oracle and Google to allow the use of Nvidia GTX to perform AI processing through the browser. The new platform should provide a response to companies that do not have the technical expertise on the subject.

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