The Information · Open Source · Nvidia · Jensen Huang · CoinDesk
Nvidia shares surge 8% on earnings overtook, lifting technology stocks and bitcoin
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Nvidia NVDA $ 224.67 · 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.
Key facts
- The Invesco QQQ has gained more than 1%, while bitcoin climbed over 1% in the past 24 hours to challenge $80,000
- 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
- CEO Jensen Huang said on the earnings call that AI agents require between 15 and 100 times more compute than conventional human-prompted interactions
- Separately, Nvidia has agreed to acquire open-source AI platform Hugging Face for $12.9 billion, The Information reported
Summary
Nvidia reported $96.2 billion in quarterly revenue and guided for $108 billion next quarter, pushing its shares 8% higher in pre-market trading. Nvidia has agreed to acquire open-source AI platform Hugging Face for $12.9 billion, . The Invesco QQQ has gained more than 1%, while bitcoin climbed over 1% in the past 24 hours to challenge $80,000. 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.