Nasdaq Jumps as Nvidia's Revenue Outlook Lifts Chip Stocks
Nvidia’s forecast for about 70% revenue growth eased AI bubble worries and lifted chipmakers, software stocks and major US indexes.
- On Thursday, Nvidia stock climbed roughly 7% after the chipmaker reported second-quarter revenue more than doubled and projected 70% revenue growth in fiscal 2028, lifting major indexes higher.
- Investor euphoria over Nvidia's upbeat outlook spurred a global rally in technology stocks, bolstering confidence in the AI trade that has powered the bull market.
- Salesforce jumped 13% after beating revenue expectations, while CrowdStrike climbed 14.5% and Okta rose more than 20% on reports of surging demand driven by AI.
- French stocks hit a one-month low amid election risks, while banks fell and airlines dropped after Australia's Qantas reported its lowest annual profit in four years.
- Investors are monitoring the Federal Reserve's annual Jackson Hole symposium in Wyoming, where UBS Global Wealth Management Chief Investment Officer Mark Haefele noted that second-quarter earnings show robust fundamental growth despite ongoing AI capex concerns.
13 Articles
13 Articles
Nvidia's Cracking Outlook Fuels AI Optimism: Market Snapshot
The world's biggest tech firm delivered earnings this week against a backdrop of nervous investors, watching eagerly to see if the AI trade was winding down or has further to run. The chip giant presented markets with something to get excited about, providing a bullish outlook as CEO Jensen Huang said demand for its artificial-intelligence accelerators continues to expand. The fresh boost of confidence is likely to mean investment in the AI buil…
Nvidia Sold the Market a New Story, and It Bought It. Here's Why.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Nvidia's earnings reset the market's AI narrative. Here's the guidance behind the move and where the supply chain money flows next. The post Nvidia Sold the Market a New Story, and It Bought It. Here’s Why. appeared first on InvestorPlace.
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