Nvidia shares surge 8% on earnings beat, lifting technology stocks and bitcoin

Nvidia NVDA $ 224.94·At close shares rose 8% during Thursday’s pre-market session after the AI chipmaker delivered another earnings beat and issued stronger-than-expected guidance, lifting the wider technology and crypto markets.

The Invesco QQQ has gained more than 1%, while bitcoin climbed over 1% in the past 24 hours to challenge $80,000. AI infrastructure companies also advanced, with IREN IREN $ 41.23·At close rising 5% and TeraWulf WULF $ 16.45·At close and Cipher Mining CIFR $ 16.55·At close gaining around 3% each.

Nvidia reported fiscal second-quarter revenue of $96.2 billion, exceeding the $92.27 billion consensus estimate, while adjusted earnings per share of $2.22 beat expectations of $2.09. The company guided for third-quarter revenue of $108 billion, ahead of Wall Street’s $103.9 billion forecast.

Management expects revenue to grow approximately 70% in fiscal 2028, despite customer forecasts pointing to demand potentially doubling. Nvidia said supply would remain the primary constraint through the end of that fiscal year.