Its results boosted AI-linked stocks and helped pull Bitcoin and major mining firms higher, even as analysts warned of mounting financial pressures for miners expanding into AI infrastructure.
At the same time, crypto exchange Bullish reported its best quarter since going public, swinging to profitability and posting sharp revenue growth, though its stock continues to slide.
Nvidia once again delivered a standout performance in the third quarter, easily surpassing Wall Street expectations.
The company reported $57.01 billion in revenue, beating the consensus estimate of $55.2 billion, while earnings per share rose to $1.30. This is well above both the projected $1.26 and the $0.81 that was recorded a year earlier. Much of this strength came from Nvidia’s data center division, which quickly became the backbone of global AI growth and generated $51.2 billion in revenue for the quarter.
The company’s impressive growth over the quarter also boosted investor confidence. Nvidia now expects fourth-quarter revenue to reach $65 billion, plus or minus 2%, which is much higher than Wall Street’s expectation of $62 billion.
CEO Jensen Huang said the company is experiencing unprecedented demand for its AI computing platforms, and described Blackwell chip sales as “off the chart.” He also revealed that cloud GPUs are effectively sold out. CFO Colette Kress added that Nvidia’s new Blackwell Ultra lineup has already become the company’s leading architecture.
After the earnings release, Nvidia’s stock jumped more than 5%, which also lifted a range of AI-linked tech names including AMD, Micron, Amazon, Google, Meta and Microsoft. Nvidia shares are now up more than 34% year-to-date, while AMD has gained an impressive 82%.
