Nvidia Stock Soars on Strong Q2 Earnings and $108 Billion Q3 Revenue Guidance

Nvidia shares rose after the company reported second-quarter sales and earnings that exceeded Wall Street's expectations.

The chip giant delivered guidance of $108 billion in third-quarter revenue, surpassing the consensus estimate of $105 billion.

CFO Colette Kress suggested on the conference call that Nvidia's revenue could rise by 70% in the next fiscal year despite supply bottlenecks.

Nvidia CEO Jensen Huang stated that the AI buildout is still at 'full steam,' fueling investor optimism about the company's growth prospects.