Super Micro Computer(US:SMCI) invezz.com·2024-05-20 04:07Nvidia Earnings Impact on AI Stocks - Nvidia's financial results will provide insights into global AI demand, impacting stocks like SoundHound (SOUN), Super Micro Computer (SMCI), and C3.ai (AI) [1] - SoundHound's stock has dropped over 50% from its 2024 high, SMCI has fallen 27%, and C3.ai has declined over 30% from its February peak [2][3] - Nvidia's stock is near its all-time high of $973, with analysts optimistic about its earnings due to strong semiconductor demand [3] Nvidia's Financial Performance and Market Expectations - Analysts expect Nvidia's Q1 sales to reach $24.57 billion, a 277% increase YoY, with the highest estimate at $26.87 billion [7] - Full-year revenue guidance is projected at $112.36 billion, an 84% increase from 2023 [7] - Nvidia has a history of beating revenue and earnings estimates, as shown by SeekingAlpha data [8] AI Industry Investments and Growth - Microsoft plans to buy 1.8 million chips this year, and Amazon is investing billions in AI for its cloud business [3] - Saudi Arabia has committed $40 billion to AI investments, benefiting Nvidia as the leading GPU provider [3] - Super Micro Computer's Q1 revenue rose to $3.85 billion, up from $1.28 billion YoY, with net profit increasing to $402 million from $85 million [8] - SoundHound's Q1 revenue grew to $11.6 million, up from $6.7 million in Q1 2023 [9] Historical Impact of Nvidia Earnings on AI Stocks - SoundHound's stock price surged over 40% on February 24th following Nvidia's previous earnings report [6] - SMCI's stock soared 30% as Nvidia's shares jumped during the same period [6]