Karla Barker 
Nvidia shares rose in premarket trading after the company posted stronger fiscal second-quarter results and a revenue forecast above expectations. The stock gained about 6.7% to around $223.71, and at one point was up nearly 8%. The move added hundreds of billions to Nvidia’s market value.
The earnings report also showed up in crypto markets. Bitcoin traded up about 2.4% near $80,400 after hitting an intraday low around $77,658. Nasdaq 100 futures climbed about 1.1%. It is not unusual for Bitcoin to move with growth stocks during risk-on days, but that relationship is not automatic. Nvidia’s numbers alone do not explain every price change in crypto.
Earnings beat and data center strength
Nvidia reported revenue of $96.22 billion for the quarter ending July 26, up 18% from the prior quarter and 106% from a year earlier. That topped the $92.2 billion consensus estimate from Visible Alpha. Non-GAAP diluted earnings were $2.22 per share, above the expected $2.09. GAAP net income came in at $59.69 billion, with diluted earnings of $2.46 per share.
Data Center remains the main engine. Revenue reached $89 billion, up 18% sequentially and 117% year over year. That segment now accounts for more than 92% of total revenue. During the quarter, Nvidia returned about $26 billion through buybacks and dividends, with roughly $99 billion left under its repurchase authorization.
Bitcoin and AI-linked mining stocks move higher
Bitcoin recovered from its intraday low and tested the $80,000 level. The move coincided with stronger U.S. tech futures and gains across semiconductor names. Some companies that connect Bitcoin mining with AI computing also rose before the open. IREN gained about 5%, while TeraWulf and Cipher Mining each added roughly 3%.
These firms have been pushing data center capacity toward high-performance computing. IREN also has a direct arrangement with Nvidia. The companies previously signed a five-year AI infrastructure agreement valued at $3.4 billion.
A wide outlook and a large unconfirmed deal
Nvidia said it expects fiscal third-quarter revenue of $108 billion, plus or minus 2%. That is ahead of the near $104 billion Wall Street forecast. The outlook assumes no data center compute revenue from China, so export controls remain a potential limit.
The company also shared an early look at fiscal 2028. CFO Colette Kress said customer projections suggest Nvidia’s growth could double next year, but the company still expects revenue growth around 70% because supply will stay constrained.
Memory costs are another concern. Nvidia sees third-quarter gross margin around 74%, plus or minus 50 basis points. Management expects margins to bottom between 71% and 72% in the fourth quarter. They could settle at 72% to 73% during fiscal 2028, depending on price increases and supply conditions.
Separately, a report from The Information says Nvidia agreed to buy Hugging Face for $12.9 billion. Reuters repeated the report. Neither company had confirmed the deal or filed a regulatory notice at the time of writing. Until an official announcement appears, the acquisition is only reported, not confirmed.
Investors now face a simpler test. Can Nvidia’s supply keep up with demand? The next quarter will show.