Investors were not impressed by Nvidia's quarterly performance and outlook even though it handily beat Wall Street's expectations thanks to the booming demand for its artificial intelligence (AI) chips.

Nvidia (NASDAQ: NVDA) has become the second-largest company in the world, with a market capitalization of $3.3 trillion as of this writing. The semiconductor giant's impressive rise can be justified by the phenomenal increase in its revenue and earnings over the past couple of years,

Nvidia (NVDA) has solidified its position as a leader in the technology industry, especially within the semiconductor space. No other semiconductor company has experienced growth as explosive as Nvidia’s.

Nvidia's chief executive Jensen Huang said on Friday he will not be attending U.S. President-elect Donald Trump's inauguration, but will instead be "on the road" celebrating the Lunar New Year with employees and their families.

Nvidia stock was rising ahead of Friday’s opening bell, putting it on course to reverse some of its losses from a tough previous session. Shares in the chip maker rose 1.4% to $135.39 in premarket trading,