Check out the companies making headlines in midday trading. Nvidia — The chipmaker and artificial intelligence beneficiary spiked 11% after Nvidia posted strong fiscal first-quarter results , issued better-than-expected guidance and announced a 10-for-1 stock split. Other AI and related semiconductor names rallied on the results. Super Micro Computer shares rose by 1.2%.
Taiwan Semiconductor Manufacturing — Taiwan Semiconductor gained 2% after the chipmaker said it anticipates annual revenue growth of 10% for the global semiconductor industry. Snowflake — Shares of the cloud-computing company dipped 3%, taking back earlier gains that were fueled by the company's better-than-expected first-quarter revenue and its higher annual product revenue outlook. Snowflake had posted $829 million in revenue, surpassing the consensus forecast of $786 million, per LSEG.