Nvidia Corp (NVDA) stocks are trading lower on Thursday following Micron Technology Inc (MU) third quarter financial results and guidance. Shareholders approved CEO Jensen Huang’s compensation package of $34 million for fiscal 2024, a 60% increase from the previous year. Huang credited the company’s success in AI chips to a strategic investment made over a decade ago. Nvidia’s dominance in AI chips has impressed Wall Street, leading to a recent stock split and a valuation of $3 trillion. Huang discussed competition and Nvidia’s shift to focusing on data centers during the Q&A session. The company aims to expand into new markets like industrial robotics and partner with major computer manufacturers and cloud providers. Melius Research’s Ben Reitzes predicts Nvidia will deliver more cash to shareholders. NVDA shares were trading down 1.19% in pre-market trading.
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