Nvidia shares surged 8% in premarket trading after a $96.2 billion quarter and $108 billion outlook lifted technology stocks and Bitcoin (BTC) toward $80,000.
Key Points:
- Nvidia’s fiscal second-quarter revenue topped the $92.27 billion consensus estimate, while adjusted earnings per share of $2.22 beat expectations of $2.09.
- The chipmaker forecast $108 billion in third-quarter revenue, above Wall Street’s $103.9 billion estimate, while warning that supply will remain the main growth constraint.
- Bitcoin gained more than 1% over 24 hours.
Nvidia Earnings
Nvidia shares gained 8% before Thursday’s market open after the chipmaker released fiscal second-quarter results that exceeded Wall Street forecasts. Revenue reached $96.2 billion, beating the $92.27 billion consensus.
Adjusted earnings per share were $2.22 compared with the $2.09 consensus, and management expects revenue to grow about 70% in fiscal 2028 despite customer forecasts suggesting demand could potentially double.
The Invesco QQQ ETF rose more than 1%, while Bitcoin added over 1% in 24 hours and challenged the $80,000 level. IREN gained 5%, while TeraWulf and Cipher Mining added about 3% each.
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Jensen Huang Outlook
Jensen Huang, Nvidia’s CEO, said AI agents require between 15 and 100 times more computing power than conventional interactions driven by human prompts.
Nvidia still expects supply to remain its main constraint through fiscal 2028, while higher memory costs could push fourth-quarter gross margins down to 71% to 72%.
The company’s outlook includes no China data-center compute revenue because of continuing geopolitical uncertainty. Separately, The Information reported that Nvidia agreed to acquire Hugging Face for $12.9 billion, a deal that would extend the chipmaker deeper into open-source AI models and software deployment.
The latest results follow Nvidia’s $81.6 billion fiscal first quarter, when revenue increased 20% from the preceding quarter and 85% from a year earlier. Revenue then moved above $96 billion in the second quarter.
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