Management issued forward guidance of $65 billion in Q4 revenue, signaling sustained demand momentum for AI infrastructure.
Crypto News
Nvidia's record third-quarter earnings ignited broad-based rallies across cryptocurrency and technology equities on Wednesday, alleviating mounting concerns about artificial intelligence sector saturation.
The chip maker reported $57 billion in revenue, up 62% year-over-year and exceeding Wall Street projections of $54.7 billion. Profit reached $31.9 billion, a 65% annual increase that surpassed analyst expectations.
Management issued forward guidance of $65 billion in Q4 revenue, signaling sustained demand momentum for AI infrastructure. This projection exceeded analyst estimates and demonstrated that the appetite for artificial intelligence capabilities remains robust despite weeks of sector volatility. The earnings beat represented a critical health check on the AI-heavy technology sector that has driven recent equity market movements.
The past weeks had witnessed significant derisking across technology shares as investors worried about AI bubble dynamics. This selling pressure extended into cryptocurrency markets as traders liquidated speculative positions and rotated toward defensive assets.
Market participants awaited Nvidia's results as a decisive indicator of whether AI adoption could sustain growth trajectories or had begun moderating.
Nvidia shares jumped 5.4% in after-hours trading to $196 following the earnings announcement, building on a 2.85% intraday gain to $186.52. The company has appreciated 39% year-to-date as markets repriced AI opportunity estimates upward. This momentum immediately transferred into crypto-exposed equities, with Coinbase, Strategy, and Circle Internet Group all posting after-hours gains despite finishing the regular session lower.
Bullish, the crypto exchange platform, climbed 1% in post-trading activity after reporting its strongest quarterly results since going public in August. The platform beat Wall Street forecasts and finished the regular session down only 3.7%, significantly outperforming broader sector weakness.
Bitcoin fell to a 24-hour low of $88,540 in late Wednesday trading, crossing below $89,000 for the first time since late April. The downturn represented a more than 10% weekly decline amid broader market volatility. However, Bitcoin recovered sharply to approximately $91,500, coinciding with Nvidia's earnings announcement, demonstrating a clear correlation between technology earnings strength and cryptocurrency price momentum.
Ethereum followed similar recovery patterns after dipping to $2,873, marking its first sub-$2,900 level since mid-July. Ethereum climbed above $3,000 in recovery trading and finished down only 1.9% on the session.
Apple, Microsoft, Alphabet, Amazon and Meta all posted after-hours gains, confirming that Nvidia's beat sparked broad technology sector optimism extending well beyond semiconductor manufacturers. Cryptocurrency Tech AI Blockchain DeFi
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