Nvidia’s latest earnings surprise and stronger revenue outlook boosted technology stocks, Bitcoin and AI infrastructure companies during Thursday’s premarket session.

Nvidia shares rose about 8% after the AI chipmaker once again surpassed Wall Street estimates and delivered guidance above expectations, providing a broader lift to technology and crypto markets.

The Invesco QQQ gained more than 1%, while Bitcoin advanced over 1% in the previous 24 hours, moving toward the $80,000 level. AI infrastructure stocks followed higher, with IREN climbing about 5% and TeraWulf and Cipher Mining each gaining roughly 3%.

Nvidia generated $96.2 billion in fiscal second-quarter revenue, topping the $92.27 billion consensus forecast. Adjusted earnings per share came in at $2.22, compared with the $2.09 expected by analysts.

For the fiscal third quarter, Nvidia expects revenue of $108 billion, above the $103.9 billion Wall Street forecast.

The company projects approximately 70% revenue growth in fiscal 2028, although customers have indicated that demand could potentially double. Nvidia said limited supply is expected to remain its biggest constraint through the end of that fiscal year.

CEO Jensen Huang said AI agents could require 15 to 100 times more computing power than conventional interactions based on human prompts.

At the same time, Nvidia expects fourth-quarter gross margins to bottom around 71% to 72% as memory expenses increase. The company’s outlook also assumes no data-center computing revenue from China amid ongoing geopolitical tensions.

Separately, The Information reported that Nvidia has agreed to acquire Hugging Face for $12.9 billion.

The transaction would give Nvidia control of a major open-source AI platform used to share and deploy models. The deal would also expand Nvidia’s role beyond chips and AI infrastructure, giving the company a larger presence across the software side of the AI industry.