Nvidia Shares Soar on Blowout Earnings Report, Pushing Market Cap Above $5.5 Trillion

Nvidia's shares skyrocketed almost 10% to around $230 on Thursday after the company released its blowout second-quarter earnings report. The revenue for the quarter was $96.2 billion, a staggering 106% increase from last year and exceeding analysts' forecasts of $92.2 billion.

The company's forecast for substantial AI-driven growth in the next fiscal year is also significant, with management expecting about 70% revenue growth in fiscal year 2028. This optimism has pushed the market capitalization of Nvidia back above the $5.5 trillion mark.