Nvidia, the world’s leading artificial intelligence company, reported stellar earnings for the fourth quarter of 2023, beating analysts’ expectations and raising its revenue guidance. The earnings report boosted the share price of Nvidia, as well as the exchange-traded funds (ETFs) that have a large exposure to the company and its peers in the tech sector. Here are the details of the Nvidia earnings report, and its impact on the AI and Mag 7 ETFs.
Nvidia beats estimates and guides higher
Nvidia, the $1.8 trillion multinational technology company headquartered in Santa Clara, Calif., announced its fourth-quarter results for the fiscal year 2023-24 on Feb. 21, 2024. The company reported a revenue of $9.8 billion, a 55% increase year-over-year, and a net income of $3.1 billion, a 71% increase year-over-year. The company also reported an earnings per share (EPS) of $1.24, beating the consensus estimate of $1.15.
The company attributed its strong performance to the robust demand for its products and services across various segments, such as gaming, data center, automotive, and professional visualization. The company also benefited from the launch of its new products, such as the GeForce RTX 30 series graphics cards, the Ampere architecture, and the Omniverse platform.
The company also raised its revenue guidance for the first quarter of the fiscal year 2024-25, expecting a revenue of $10.6 billion, plus or minus 2%, which is higher than the analysts’ estimate of $9.5 billion. The company also announced a quarterly cash dividend of $0.16 per share, payable on March 31, 2024.
Nvidia shares jump and lift AI and Mag 7 ETFs
The earnings report was well received by the investors, who pushed the share price of Nvidia up by more than 5% in the after-hours trading. The share price of Nvidia has gained over 200% in the past year, making it one of the best-performing stocks in the market.
The share price of Nvidia also lifted the ETFs that have a high exposure to the company and its peers in the tech sector, especially the AI and Mag 7 ETFs. The AI ETFs are the funds that invest in the companies that are involved in the development and application of artificial intelligence, such as Nvidia, while the Mag 7 ETFs are the funds that invest in the seven largest and most influential tech companies in the world, namely Nvidia, Apple, Microsoft, Amazon, Google, Facebook, and Tesla.
Some of the ETFs that benefited from the Nvidia earnings report are:
- The VanEck Semiconductor ETF (SMH), which has a 25% allocation weight to Nvidia, and a 10% weight to the other Mag 7 stocks. The ETF has gained 67% in the past year, and is up 1.5% in the after-hours trading.
- The Global X Robotics and Artificial Intelligence ETF (BOTZ), which has a 20% allocation weight to Nvidia, and a 7% weight to the other Mag 7 stocks. The ETF has gained 27% in the past year, and is up 1.2% in the after-hours trading.
- The Invesco QQQ Trust (QQQ), which has a 9% allocation weight to Nvidia, and a 40% weight to the other Mag 7 stocks. The ETF has gained 44% in the past year, and is up 0.8% in the after-hours trading.
The outlook for Nvidia and the AI and Mag 7 ETFs
The outlook for Nvidia and the AI and Mag 7 ETFs is positive, as the company and the sector are expected to continue to benefit from the growing demand for digital transformation and cloud services, as well as the innovation and leadership in the field of artificial intelligence. The company and the sector are also expected to face some challenges, such as the regulatory and pricing environment, the competition from the rivals, and the high expectations from the investors. The company and the sector will have to maintain their growth momentum and exceed the investor expectations to sustain their bull run.
![gain Rise in Gold Rate in India After Falling Rs 21,200/24K; Will Gold Price Today Jump or Drop on 28 March? By Harshika Yadav Published: Saturday, March 28, 2026, 6:55 [IST] preference Add as a preferred source on Google Gold rates in India witnessed a modest recovery on March 27, 2026, after a sharp fall in the previous session, indicating a cautious stabilisation in the bullion market. The yellow metal had dropped by Rs 212 per gram (or Rs 21,200 per 100 grams) of 24 Karat (24K) earlier, but managed to regain some ground. Gold Price Updates as US-Iran Tensions Ease; Pakistan, Turkiye & Egypt Step Up Mediation Efforts The rise in yellow metal follows easing geopolitical concerns after US President Donald Trump signalled a delay in potential military action against Iran's energy infrastructure by 10 days, pushing the deadline to April 6. This development, along with ongoing diplomatic efforts, has helped support safe-haven demand. gold Rate Today Further adding to market sentiment, Pakistan's Foreign Minister Ishaq Dar confirmed that Islamabad is acting as an intermediary between the United States and Iran, relaying messages as part of efforts to de-escalate tensions. Countries like Türkiye and Egypt are also reportedly supporting the mediation process, offering some relief to global financial markets. Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram 24 Karat Gold Rate Today in India In the 24 Karat segment, at the time of writing, the rate for 1 gram stood at Rs 14,471, rising by Rs 16 from Rs 14,455. For 8 grams, the price increased to Rs 1,15,768, up by Rs 128. The rate for 10 grams climbed to Rs 1,44,710, reflecting a gain of Rs 160, while 100 grams of 24 Karat gold were priced at Rs 14,47,100, marking an increase of Rs 1,600. 22 Karat Gold Rate Today in India The price of one gram of 22K stood at Rs 13,265, gaining Rs 15 from the previous session. For 8 grams, the rate rose to Rs 1,06,120, registering an increase of Rs 120. The cost of 10 grams advanced to Rs 1,32,650, up by Rs 150, while 100 grams were priced at Rs 13,26,500, reflecting a gain of Rs 1,500. 18 Karat Gold Rate Today in India The rate for one gram of 18K stood at Rs 10,853, up by Rs 12. For 8 grams, the price moved up to Rs 86,824, marking a gain of Rs 96. The rate for 10 grams climbed to Rs 1,08,530, increasing by Rs 120, while 100 grams were valued at Rs 10,85,300, reflecting an uptick of Rs 1,200. Latest MCX Gold Price In the domestic futures market, gold on the Multi Commodity Exchange (MCX) held firm above the Rs 1,44,500 level as per latest trading record, supported largely by the weakness in the Indian rupee, which continues to cushion local prices despite global volatility. Latest Spot Gold Rate The rebound in domestic gold rates comes alongside a recovery in international markets, where gold moved above the $4,400 per ounce mark. What Lies Ahead for Gold Prices? Check Gold Rate Prediction Jateen Trivedi, VP - Research Analyst (Commodity and Currency), LKP Securities, said, "Gold remained slightly positive, trading above $4,425 with highs near $4,475, supported by initial optimism around US-Iran talks. However, the sharp rise in crude continues to signal underlying market stress and inflation risks." From a technical perspective, he explained, "Technically, support is seen near Rs 1,42,000, while resistance is placed around Rs 1,46,500. Overall, gold is expected to remain volatile with limited upside unless clarity emerges on inflation and geopolitics."](https://keralanews247.com/wp-content/uploads/2026/03/rupee-and-dollar-scaled-120x86.png)
