Nvidia's Blowout Earnings Fuel US Stock Market Rally

The US stock market saw gains on Thursday, led by technology-heavy indexes. Nvidia, the AI chip giant, reported another quarter of accelerating growth and beat bottom-line estimates.

Nvidia's revenue reached $96.2 billion in Q2 2027, a 106% increase from the previous year. The company also issued rosy guidance for the third quarter, but warned that gross margins will decrease due to rising memory chip costs.

The Nasdaq Composite index led the gains with a 1.31% rise, while the S&P 500 and Dow Jones Industrial Average followed with 0.77% and 0.36% gains respectively.

Nvidia's stock rose 8.4%, adding $461 billion to its market value and making it the driving force behind the Nasdaq Composite moves today.