Shares of Nvidia Corp., the world’s second largest company, surged in pre-market trading on Tuesday, ahead of its first quarter earnings report, which is slated to be released on May 28.
In the pre-market session, Nvidia stock was nearly 3% higher.
At 8:27 AM EDT, the stock was at $134.53, up $3.24, or 2.47%.
The Nvidia shares gained in tandem with a rise in the US stock futures.
Wall Street’s key stock indices are set for gains with investors optimistic about the US and European trade talks.
As of 7:59 AM New York time, the S&P 500 contracts rose 1.5%, the Nasdaq 100 futures were 1.6% higher, and the Dow Jones Industrial Average Futures added 1.4%.
Nvidia results
Investors are eagerly awaiting the artificial intelligence- chip company results for answers on how much US chip curbs on China will cost the company.
Last month, the Trump administration had imposed export limits on Nvidia’s H20 chip – a move the company had said would result in $5.5 billion in charges.
Last week, Nvidia CEO Jensen Huang, who pegged the market for AI chips in China at roughly $50 billion next year, had said his company had walked away from $15 billion of sales in the country after the curbs.
The company is planning to launch a new AI chipset for China based on Nvidia’s latest generation Blackwell architecture, reported news agency Reuters.
