Nvidia Soars Almost 10%—Pushing Value Back Above $5.5 Trillion
Jensen Huang said revenue could grow 70% next fiscal year, while the company’s shares rose more than 5% and lifted chip stocks.
- On Thursday, Nvidia shares jumped nearly 10% to $230 after reporting $96.2 billion in second-quarter revenue, up 106% year-over-year, pushing the company's market capitalization above $5.5 trillion.
- CEO Jensen Huang attributed the surge to sustained AI demand, forecasting 70% revenue growth in fiscal year 2028, a projection that sent shares up more than 5% on its own.
- Rising memory costs will pressure near-term margins, with Nvidia CFO Colette Kress expecting them to ease to around 71% from about 74%, while Micron Technology and SK Hynix traded more than 3% higher.
- The Nasdaq Composite led market gains at 1.31%, driven by Nvidia's $461 billion in added market value, while software titan Salesforce surged 19% and the Dow Jones Industrial Average trailed at 0.33%.
- Potential new tariffs on semiconductors loom over the sector, while Cleveland Fed President Beth Hammack suggested the central bank should raise rates now to address inflation.
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Chip manufacturer Nvidia gained $442 billion in market value in a single day. On the New York stock exchange, the world's most valuable publicly traded company rose nearly 9 percent on Thursday following a strong quarterly report. Investors were particularly enthusiastic about the chip company's expectation that revenue will grow by a further 70 percent next year.
Nvidia (NASDAQ: NVDA) Earnings Ignite Tech Rally As S&P 500, DJIA Edge Up
Major U.S. stock indices closed sharply higher on Thursday, with the S&P 500 gaining +0.72%, the Dow Jones Industrial Average rising +0.20%, and the Nasdaq 100 surging +1.43%. Nvidia (NASDAQ: NVDA) delivered a blowout earnings report that supercharged confidence in the artificial intelligence trade, sending its shares soaring more than +8% on the session. The […] The post Nvidia (NASDAQ: NVDA) Earnings Ignite Tech Rally As S&P 500, DJIA Edge Up …
Driven by the strong performance of the technology sector after the quarterly results of Nvidia, the American exchanges closed Thursday (27) high, especially the Nasdaq index. The Dow Jones index closed high by 0.20%, at 53,568.55 points, the S&P 500 gained 0.72%, at 7.730.79 points, and the Nasdaq advanced by 1.57%, at 26.541.35 points, reflecting the strong performance of the technology sector (+3.40%), the only one that closed the day high, a…
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