Nvidia Posts $57B Record Revenue with Bitcoin Rebounding Above $91K
Nvidia reported record $57.01 billion Q3 revenue, driven by AI chips, while Bitcoin recovered above $91,000 amid AI bubble concerns.Summary
Nvidia announced record fiscal third-quarter revenue of $57.01 billion, significantly surpassing Wall Street estimates, largely fueled by $51.2 billion from its data center business supporting AI applications. CEO Jensen Huang confirmed strong demand for Blackwell chips and cloud GPUs, with products sold out, leading to robust forward guidance of $65 billion for the next quarter. This strong performance revived AI investment sentiment, which had been tempered by concerns over a potential AI bubble flagged by major investors and regulators. Concurrently, Bitcoin rebounded above $91,000 after a dip, suggesting renewed optimism in risk assets. The article also notes an increased correlation between cryptocurrencies and traditional risk assets, as both have been pressured by rising US interest rates and reduced expectations for near-term Federal Reserve rate cuts.
(Source：BeInCrypto)