Stocks
Nvidia's Strong Earnings Send Tech Stocks Soaring
The US stock market opened higher on Thursday, August 27, led by technology shares after strong earnings and an upbeat revenue outlook from Nvidia boosted investor sentiment.
Nvidia shares jumped around 7% after the chipmaker beat analyst expectations and projected strong revenue growth of 70% in fiscal 2028, significantly above the 44% forecast by analysts surveyed by LSEG.
The company's fiscal second-quarter revenue more than doubled from a year earlier, with its AI business driving growth. Nvidia's strong performance lifted other semiconductor stocks, including Marvell Technology and Micron Technology, which gained nearly 4% and over 3%, respectively.