Nvidia's stellar result shifts focus to AI-linked stocks of Indian firms

Shares of Nvidia rose 16 per cent after its result, adding $277 billion in market cap to $1.96 trillion, making it the third-most valuable company in the US ahead of Amazon

Artificial intelligence (AI) titan Nvidia’s bumper results have put into focus domestic companies offering AI-linked services.

Shares of Happiest Minds Technologies, Tata Elxsi, Persistent Systems and L&T Technology Services (LLTS) posted sharp gains on Friday in an otherwise dull market.

Nasdaq-listed AI chip maker’s fourth quarter sales and profitability in the financial year beat Street’s elevated expectations, posting massive growth.

In its commentary, Nvidia said, “Strong demand was driven by enterprise software and consumer internet applications, as well as multiple industry verticals, including automotive, financial services and health care.”

Nvidia chief executive Jensen Huang said accelerated computing and generative AI