Fubotv earnings beat by $0.10, revenue topped estimates
NVIDIA (NASDAQ:NVDA) stock gained 2% after-hours Wednesday after large clients Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) pointed to continued investment in AI infrastructure with their quarterly results.
"We remain committed to balancing operational discipline with continued investments in our cloud and AI infrastructure," Microsoft’s CFO Amy Hood said. The tech giant reported that their AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year.
Meanwhile, Meta recently raised its 2025 capital expenditures to $60-65 billion, driven by increased investment to support both their generative AI efforts and core business.
Shares of NVIDIA have been under heavy pressure this week after China AI upstart DeepSeek released their AI model, built for a tiny fraction of the billions spent by others and using old NVIDIA servers. The release has created worries that others will look to the DeekSeek model of being more efficient with AI, thereby spending less on more sophisticated NVIDIA GPUs and servers.
NVIDIA stock has seen a wild ride this week - falling 17% on Monday, bouncing 9% on Tuesday, and then giving back 4% during the regular trading session on Wednesday.