Nvidia Earnings Lift Tech and Crypto Markets with Strong Revenue Beat

Nvidia's shares surged 8% in pre-market trading on Thursday after the AI chipmaker reported better-than-expected earnings and issued stronger guidance, lifting the tech and crypto markets.

The company's fiscal second-quarter revenue of $96.2 billion exceeded estimates of $92.27 billion, while adjusted earnings per share of $2.22 beat expectations of $2.09.

Nvidia also guided for third-quarter revenue of $108 billion, ahead of Wall Street's forecast of $103.9 billion, and expects revenue to grow around 70% in fiscal 2028 despite potential doubling demand.

The company cited supply constraints as the primary issue through the end of the fiscal year, with CEO Jensen Huang noting that AI agents require between 15 and 100 times more compute than human-prompted interactions.