Nvidia Earnings Fuel Tech Rally as Revenue Surges

Nvidia Corp (NASDAQ:NVDA) shares surged after hours following a stronger-than-expected fiscal second-quarter report. The company reported $96.22 billion in revenue, up 106% year over year and above the roughly $92.2 billion expected by analysts.

Jensen Huang-led Nvidia expects third-quarter revenue to reach $105.84 billion to $110.16 billion, representing 85.7% to 93.2% year-over-year growth from the $57.01 billion reported in the same quarter last year.

Huang pointed out that accelerating demand has fueled this growth, saying, 'Now, compute is revenue.'