Nvidia Stock Jumps 8% After Earnings Beat, Boosting Tech and Bitcoin

Nvidia’s better-than-expected earnings and upbeat forecast pushed technology stocks, Bitcoin and AI infrastructure companies higher.

Shares of Nvidia gained around 8% in Thursday’s premarket trading after the AI chipmaker once again surpassed earnings expectations and delivered a stronger revenue outlook, lifting both technology and cryptocurrency markets.

The Invesco QQQ rose more than 1%, while Bitcoin gained over 1% in the previous 24 hours, moving toward the $80,000 mark. AI infrastructure stocks also advanced, with IREN up about 5% and TeraWulf and Cipher Mining each gaining roughly 3%.

Nvidia reported $96.2 billion in fiscal second-quarter revenue, topping the $92.27 billion analyst consensus. Adjusted earnings per share came in at $2.22, above the expected $2.09. For the third quarter, the company projected revenue of $108 billion, exceeding Wall Street’s $103.9 billion estimate.

Nvidia expects revenue to increase by about 70% in fiscal 2028, even though its customers have indicated that demand could potentially double. The company said supply constraints are likely to remain its biggest limitation through the end of that fiscal year.

During the earnings call, CEO Jensen Huang said AI agents can require 15 to 100 times more computing power than traditional interactions driven by human prompts.

At the same time, Nvidia expects gross margins to bottom at around 71% to 72% in the fourth quarter, partly because of increasing memory costs. The company’s guidance also assumes no data-center computing revenue from China amid ongoing geopolitical tensions.

Separately, The Information reported that Nvidia has agreed to acquire open-source AI platform Hugging Face for $12.9 billion.

The deal would give Nvidia control of one of the largest platforms for distributing and deploying open-source AI models. It would also expand the chipmaker’s presence beyond processors and infrastructure and deeper into the broader AI software ecosystem.