Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

CoreWeave stock was gaining alongside AMD, Super Micro and a number of other companies as Nvidia relieved concerns over the artificial-intelligence trade.

Nvidia's Q3 earnings report states that all Nvidia AI cloud GPUs are sold out. In today's video, I discuss recent updates affecting Nvidia ( NVDA 1.06%) and other artificial intelligence stocks. To learn more, check out the short video, consider subscribing, and click the special offer link below.

Investors hoping that a strong report from Nvidia on Wednesday might help turn things around for the broader market shouldn't hold their breath, according to Michael Brown, a senior strategist at Pepperstone.

The chip maker reported record revenue, beating Wall Street estimates and increasing current-quarter guidance.