Crypto
Home›Crypto›Market Structure›Nvidia earnings beat lifts tech stocks and pushes bitc…
Nvidia earnings beat lifts tech stocks and pushes bitcoin higher
Nvidia guided for $108 billion in third-quarter revenue and disclosed gross margin pressure from rising memory costs as bitcoin challenged $80,000.
Nvidia shares jumped 8% in pre-market trading after the AI chipmaker reported stronger-than-expected results and issued a higher outlook, helping lift both technology stocks and bitcoin, according to CoinDesk.
Nvidia reported fiscal second-quarter revenue of $96.2 billion, above the $92.27 billion consensus estimate, and adjusted earnings per share of $2.22, compared with expectations for $2.09. The company guided for third-quarter revenue of $108 billion, ahead of Wall Street’s $103.9 billion forecast.
The broader rally extended to AI infrastructure firms, with IREN up about 5% and TeraWulf and Cipher Mining each gaining around 3%. Bitcoin also rose more than 1% over the past 24 hours, trading above $80,000.
CoinDesk also cited Nvidia’s guidance and disclosures, including an expectation that supply would remain the primary constraint through the end of fiscal 2028 and a forecast that gross margins will bottom between 71% and 72% in the fourth quarter due to rising memory costs. Separately, Nvidia agreed to acquire open-source AI platform Hugging Face for $12.9 billion, extending its push beyond chips into the AI software stack.
Latest closeBitcoin $77,087.06 ▼1.5%