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Nvidia: "We have excellent visibility through the year and into next year, and we're already planning the next generation infrastructure with leading (cloud computing firms) and data center builders," Huang told investors on a conference call.
Nvidia's stock price surged 8% in extended trading after the numbers came out. The shares already have more than tripled so far this year, a run-up that has boosted Nvidia's market value to $1.2 trillion - a threshold that thrust the company into the tech industry's elite.
More than 20 brokerages raised their target price for Nvidia post the earnings update, according to Refinitiv data, with Elazar Advisors being the most bullish at $1,600.
VMWare: On Tuesday, the company released a new set of tools help designed to manage Nvidia chips, which dominate the market for AI systems that can read and write text in human-like ways. Companies like Microsoft Corp, for example, are offering cloud-based systems that can read through a business team's emails and chats and help generate a short update on a the team's progress.
Nvidia Inc. is scheduled to report earnings after Thursday’s close. Here is a closer look at the numbers and what it means for the market.