Nvidia Earnings Beat, Strong Outlook Calm Jittery Markets; Bitcoin Re-Takes $90K
Nvidia reported strong Q3 earnings and an optimistic Q4 outlook, causing its stock to rise and calming crypto markets, pushing Bitcoin above $90,000.Summary
Nvidia announced better-than-expected third-quarter earnings, reporting $57.01 billion in revenue, a 62% year-over-year increase, fueled by the AI investment boom. CEO Jensen Huang stated that "Blackwell sales are off the charts, and cloud GPUs are sold out," noting exponential growth in compute demand for both training and inference.
The company provided a strong fourth-quarter revenue forecast of $63.7-$66.3 billion, surpassing the Street's estimate of $62 billion. This positive news immediately calmed volatile cryptocurrency markets, leading Bitcoin to reclaim the $90,000 level after dipping below $88,000 earlier. AI-focused tokens like TAO, Near Protocol, ICP, and RNDR also saw gains of 4%-5% following the report.
Nvidia's results solidify its central role in the AI supply chain, as its GPUs are essential for training large language models and powering data centers. Investors are awaiting a conference call for further reassurance regarding the sustainability of revenue from its massive AI infrastructure investments.
(Source：CoinDesk)