Nvidia stock soared after the company delivered a record-shattering Q3 earnings report, with results that blew past Wall Street expectations. Investors cheered as Nvidia not only beat analysts’ estimates for both revenue and earnings but also issued a bullish forecast for the next quarter, igniting excitement across the tech sector.
The chipmaker projected Q4 revenue of $65 billion, far outpacing Wall Street’s $62 billion target and speaking to the surging demand for AI chips globally. CEO Jensen Huang captured the mood, proclaiming that “Blackwell sales are off the charts, and cloud GPUs are sold out,” sending Nvidia stock to fresh highs in after-hours trading.
Nvidia’s Profit explosive results triggered a rally among other major AI stocks. AMD jumped over 4%, while Micron posted a 2% gain during premarket Thursday. Tech giants Amazon, Google, Meta, and Microsoft saw their stocks edge higher as investor sentiment turned broadly positive following Nvidia’s game-changing announcement.
For the quarter, Nvidia posted earnings per share of $1.30 on revenue of $57.01 billion, outpacing forecasts of $1.26 per share and $55.2 billion in sales. The company’s data center business led the way, bringing in $51.2 billion, well above expectations. Gaming revenue, meanwhile, came in slightly below targets at $4.3 billion.
In a dramatic twist preceding the earnings release, influential investors Peter Thiel and SoftBank sold off their entire Nvidia stock holdings, sparking speculation about future market moves. Nvidia now boasts a market cap that recently topped $5 trillion, cementing its status as a dominant force in the AI revolution and keeping Nvidia stock firmly in the spotlight.
