Home / Business and Economy / Nvidia Eyes $1T Chip Orders; Delta Soars on Revenue Boost
Nvidia Eyes $1T Chip Orders; Delta Soars on Revenue Boost
17 Mar
Summary
- Nvidia anticipates $1 trillion in chip orders through 2027.
- Delta Air Lines increased revenue growth guidance to high single digits.
- Oil stocks climbed as crude prices resumed upward trend.
Nvidia's CEO has projected a remarkable $1 trillion in orders for its upcoming Blackwell and Vera Rubin chips by 2027, signaling strong future growth for the chipmaker. The company's stock saw a slight increase in premarket trading following this optimistic outlook.
Delta Air Lines announced it is raising its first-quarter revenue growth guidance to high single digits, an increase from its previous projection of 5% to 7%. This positive news led to a more than 4% rise in its shares premarket.
In the energy sector, oil stocks experienced a rally as crude prices continued to climb. This surge was partly influenced by uncertainty surrounding a U.S.-backed initiative to escort tankers through the Strait of Hormuz. Major oil companies like Exxon Mobil and Occidental Petroleum saw gains, as did the State Street Energy Select Sector SPDR ETF.
Conversely, pharmaceutical giant Eli Lilly saw its stock fall by 1.1%. This decline followed an HSBC downgrade, with analysts expressing concerns about the valuation of the obesity drug market and the company's financial trends.
