Tech Stocks Surge as Nvidia and Salesforce Exceed Expectations

Nvidia's Q2 earnings exceeded expectations, leading to a surge in tech stocks. The chipmaker reported revenue of $96.2 billion and adjusted EPS of $2.22, beating estimates.

Salesforce also posted strong results, with its fiscal Q2 revenue and adjusted EPS exceeding Wall Street forecasts. The company raised its full-year guidance, sending shares soaring over 20%.

Nvidia's forecast for Q3 revenue above expectations has analysts believing the AI capital expenditure cycle is far from slowing down. In fact, growth could be closer to 100% if supply constraints weren't limiting demand.