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The Ratings Game: Nvidia elicits cheers for data-center business, though crypto concerns remain

Rapid growth in Nvidia Corp.’s data-center business helped power another strong quarter of results that pushed shares higher Friday, and supporters don’t see that momentum letting up.

Though not Nvidia’s NVDA, +2.66% largest business, the server segment is its fastest-growing. Revenue rose 105% year-over-year in the January-ended quarter, to $606 million, ahead of the FactSet consensus estimate for 85% growth. That’s one big reason why Nvidia shares gained in Friday morning trading.

“We believe this dynamic demonstrates consistent demand for Nvidia’s leading-edge data center products, driving [average selling price] and margin strength,” wrote Oppenheimer analyst Rick Schafer. He noted that the company’s V100 product already has a number of high-profile adopters, including Alibaba Group Holding Ltd.

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