MarketWatch First Take: Nvidia’s bet on deep learning and autonomous cars drives stock to record highs

Nvidia has been a leader in producing the technology behind high-quality graphics for years, but the company’s bet on a different future has taken it to new heights on Wall Street.

Nvidia Corp. surprised investors with a better than expected second quarter earnings and outlook Thursday, fueled by sales of its new graphics processor family, as well as chips to data centers. The company’s core gaming-processor business, which saw a jump of 18% to $781 million in revenue, made up about half of Nvidia’s NVDA, +2.03% total revenue of $1.43 billion in the quarter.

Chief Executive Jen-Hsun Huang, though, spent an equal amount of time on the company’s conference call discussing the growth in its far-smaller data center business and his investment in deep learning, pointing to the future of the business.

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