AI stocks are on the rise Thursday as investors react to positive news from a major player in the space.
The big news that has investors excited today is Nvidia (NASDAQ:NVDA) releasing its earnings report for the second quarter of the year. The company reported earnings per share of $2.45 and revenue of $13.5 billion. Both of those blew past Wall Street’s estimates of $2.08 per share and revenue of $11.2 billion.
Following this, a team of analysts at Goldman Sachs weighed in on Nvidia and other top AI stocks to watch. Here’s what that team said in a report obtained by MarketWatch:
“The estimated AI-driven earnings boost is likely to occur over the next few years, but should be reflected in stock valuations sooner. However, the eventual share price impact will depend on the ability of companies to use AI to enhance earnings.”
Let’s get into the AI stocks that are up today below!
AI Stocks Up on Thursday
- Nvidia starts us off with the company’s shares climbing 2.2% on Thursday morning.
- Splunk (NASDAQ:SPLK) is next on our list, with the company’s stock gaining 12.9% as of this writing.
- Baidu (NASDAQ:BIDU) shares are up 1.8% as of Thursday morning.
Several other AI stocks were up when markets opened this morning but have since given up those gains and are now down.
Investors on the lookout for even more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news for Thursday! That includes what’s happening with shares of Snowflake (NYSE:SNOW), SPLK, and Cassava Sciences (NASDAQ:SAVA) stock today. All of that news is ready to go at the links below!
More Stock Market News for Thursday
- Snowflake (SNOW) Stock Is Sliding Despite AI Hopes
- Is Splunk (SPLK) Stock the Next AI Giant?
- Insider Richard Barry Just Doubled Down on Cassava (SAVA) Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
