Nvidia’s AI Boom Lifts European Chip Stocks as Markets Hold Steady

TLDR

• Nvidia reported quarterly revenue that more than doubled year-on-year, with fiscal 2028 growth guidance of ~70% vs Wall Street’s 44% estimate
• European chip stocks ASML, STMicroelectronics, Infineon, and BE Semiconductors rose 2-4% on the back of Nvidia’s results
• The pan-European Stoxx Europe 600 slipped 0.1%, with the FTSE 100 down 0.4% and France’s CAC 40 off 0.2%
• German consumer sentiment improved heading into September, rising to -26.6 points
• Brent crude dropped 0.5% to $87.40, its fourth consecutive daily decline, as Middle East peace talks eased supply fears

Nvidia’s latest earnings gave European chip stocks a lift on Thursday, though broader European markets stayed largely flat as investors weighed AI optimism against economic caution.

The Santa Clara-based chipmaker reported quarterly revenue that more than doubled compared to a year ago. It also guided for current-quarter revenue above Wall Street expectations and said it expects fiscal 2028 revenue growth of around 70%. Analysts had been forecasting 44%.

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