Nvidia Tops Earnings, AI Demand Drives Market Rally; Bitcoin Hits $90K
Nvidia CEO Jensen Huang said, “Blackwell sales are off the charts, and cloud GPUs are sold out,” highlighting the surging demand for AI hardware.
The chipmaker beat third-quarter expectations, posting $57.01 billion in revenue—a 62% increase from a year ago—and offered a strong outlook for Q4, easing concerns about an AI bubble.
“Compute demand continues to accelerate across both training and inference — each growing exponentially,” Huang added.
Nvidia shares rose 4% in after-hours trading following the announcement.
Data Centers Lead the Way
Data centers, Nvidia’s largest revenue segment, generated $51.2 billion, surpassing analyst estimates of $49.34 billion. The company projects Q4 revenue of $63.7-$66.3 billion, above Wall Street’s $62 billion forecast.
Crypto and AI Stocks React
The earnings report also boosted crypto markets. Bitcoin (BTC) reclaimed $90,000 after nearing $88,000 earlier in the day. AI-focused tokens, including TAO, Near Protocol (NEAR), ICP, and RNDR, gained 4%-5%.
Shares of bitcoin mining firms shifting toward AI infrastructure also rose, including IREN (+8%), Cipher Mining (CIFR) (+11%), and Hut 8 Mining (HUT) (+6%), recovering from recent tech and crypto selloffs.
Nvidia’s Pivotal Role in AI
The results reaffirm Nvidia’s central role in the AI ecosystem. Its GPUs power data centers, train large language models, and support machine-learning workloads across major tech companies.
Investors are looking ahead to a 5 p.m. ET conference call for insights on how Nvidia’s investments in AI infrastructure, next-generation chips, and software are translating into sustained revenue growth.
