Nvidia Earnings Beat Lifts Tech Stocks and Bitcoin

Nvidia is the dominant supplier of accelerators used to train and run generative artificial intelligence, making its results a key gauge of spending by cloud providers and AI developers. The chipmaker’s performance also carries broad market weight because it signals whether the multiyear buildout of data centers, power and computing capacity remains intact. That sensitivity extends beyond semiconductor stocks to AI infrastructure companies and risk assets including bitcoin.

Nvidia said on Aug. 26 that fiscal second-quarter revenue reached $96.2 billion, topping the $92.27 billion consensus estimate, while adjusted earnings were $2.22 a share versus $2.09 expected. It forecast third-quarter revenue of $108 billion, above Wall Street’s $103.9 billion estimate. Nvidia shares surged 8% in Aug. 27 premarket trading, while the Invesco QQQ gained more than 1% and bitcoin advanced over 1% toward $80,000. IREN rose 5%, with TeraWulf and Cipher Mining up about 3% each.