Nvidia Earnings Spark Tech Rally, Semiconductor Stocks Surge

Nvidia's earnings report sparked a rally in tech stocks on Thursday, as the S&P 500 and Dow Jones Industrial Average also rose.

The chipmaker reported Q2 revenue of $96.22 billion, exceeding Wall Street's consensus estimate of $92.38 billion, and projected fiscal 2028 revenue to grow approximately 70%.

This sent Nvidia's shares soaring more than +8%, lifting the broader semiconductor and AI-infrastructure sector with it, with the iShares Semiconductor ETF (SOXX) closing up over +1%, and Intel (NASDAQ: INTC) and Broadcom (NASDAQ: AVGO) each gaining more than +3%.

Cybersecurity stocks also surged after CrowdStrike Holdings (NASDAQ: CRWD) raised its 2027 adjusted operating income forecast to $1.50 billion-$1.51 billion from a prior estimate of $1.45 billion-$1.48 billion, with Okta (NASDAQ: OKTA) jumping more than +28% after boosting its 2027 revenue forecast.