Shares of Nvidia (NASDAQ: NVDA) leaped 14% on Thursday as the prospect of an artificial intelligence-driven boom in chip demand tantalized investors. Nvidia's revenue declined by 21% year over year to $6.05 billion in its fiscal 2023 fourth quarter, which ended on Jan. 29. A sharp decline in gaming-related sales, which have slowed in recent quarters after experiencing torrid growth earlier in the pandemic, weighed on the semiconductor titan's results. Read More...
Reuters
Carvana’s net loss widens on cooling used car demand
Carvana, known for its automated car vending machines, allowed users to buy used cars online and offered home deliveries, which made it popular during the COVID-19 pandemic when people were confined to their homes. However, demand of used cars has cooled following an improved availability of new cars and as people look for alternative means to commute in an attempt to trim expenses with a higher interest rates. Carvana posted a fourth-quarter net loss of $806 million, or $7.61 per class A share, up from a loss of $89 million, or $1.02 per class A share, a year earlier.
