Nvidia Earnings Beat Sends Stock Futures Higher as AI Demand Holds Strong
TLDR
- Nvidia beat earnings expectations and forecast strong revenue growth for fiscal 2028
- Nvidia stock rose 6% in premarket trading on Thursday
- Nvidia reportedly agreed to buy Hugging Face for $12.9 billion
- S&P 500, Nasdaq 100, and Dow futures all rose following the results
- Salesforce, CrowdStrike, and Okta also beat Wall Street earnings targets
US stock futures climbed on Thursday morning after Nvidia delivered a strong earnings report and pointed to continued growth in AI demand through next year.
Futures on the S&P 500 rose 0.5%, Nasdaq 100 futures jumped around 1%, and Dow Jones Industrial Average futures advanced roughly 0.2%.
Nvidia Beats and Rises in Premarket
Nvidia beat analyst expectations for the second quarter and forecast strong revenue growth for fiscal 2028. The results eased concerns about whether the company could keep up its pace of growth in AI chips.
Nvidia shares rose 6% in premarket trading on Thursday.
On Wednesday night, the Information reported that Nvidia had agreed to acquire Hugging Face, an open-source AI model repository, for $12.9 billion.
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