Nvidia (NVDA) shares moved higher in premarket trading Thursday after the AI chipmaker released quarterly results and an outlook that surpassed analysts’ expectations.
The company’s closely watched data center revenue more than doubled in the fiscal third quarter from a year earlier, boosted by AI infrastructure spending by large technology companies. Executives told analysts on the post-earnings conference call that demand for the chipmaker’s next-generation Blackwell system is enormous and that the company is working to boost supply, putting Blackwell revenue on track to exceed estimates.
Nvidia shares have nearly doubled since the start of the year amid the company’s dominance in the AI chip market coupled with insatiable demand for silicon that powers the technology. The stock was up nearly 2% at around $149 in recent premarket trading.
Below, we take a look at Nvidia’s chart and use technical analysis to identify key post-earnings price levels to watch out for.
Nvidia shares traded …