Why Is Nvidia Stock (NVDA) Soaring Today?

Shares of Nvidia (NASDAQ: NVDA) are rising on Wednesday, up 4% as of 2:13 p.m. ET. The gain comes as the S&P 500 and the Nasdaq Composite gained 0.3% and 0.1%, respectively.The artificial intelligence (AI) chip giant's stock surged after Oracle reported earnings, revealing a revenue backlog that shocked Wall Street.Oracle reported earnings that included $455 billion in total remaining performance obligations (RPOs) -- essentially future revenue for which it is already contracted and now must deliver on. That figure is more than 4 times larger than it was during the same quarter last year. The cloud infrastructure provider plans to deploy $35 billion in capital expenditures (capex) during its fiscal 2026, with most of that going to AI computing infrastructure like Nvidia's chips.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool