Nvidia Earnings Beat Expectations, Strong AI-Driven Demand Boosts Markets; Bitcoin Rebounds Above $90K

“Blackwell sales are off the charts, and cloud GPUs are sold out,” said Nvidia CEO Jensen Huang.

Concerns over a potential AI bubble eased, at least temporarily, after Nvidia (NVDA) reported a third-quarter earnings beat and a robust fourth-quarter outlook following Wednesday’s U.S. market close.

The chipmaker posted revenue of $57.01 billion, a 62% increase from a year ago, surpassing Wall Street forecasts as demand for AI-driven chips continues to surge.

“Compute demand keeps accelerating and compounding across training and inference — each growing exponentially,” Huang added.

Shares of Nvidia rose 4% in after-hours trading at the time of reporting.

Data Center Revenue Drives Growth
Data center revenue, the company’s largest income driver, reached $51.2 billion, exceeding analyst expectations of $49.34 billion.

Looking ahead, Nvidia expects fourth-quarter revenue between $63.7 billion and $66.3 billion, well above Street estimates of $62 billion, signaling continued momentum from AI-related investments.

Ripple Effect on Crypto Markets
The strong earnings report provided a boost to jittery crypto markets. Bitcoin (BTC) climbed back above $90,000 after dipping close to $88,000 earlier Wednesday. AI-focused crypto tokens also saw gains, including TAO (+4%), Near Protocol NEAR (+4%), ICP (+5%), and RNDR (+4%-5%).

Investors also cheered shares of bitcoin mining firms pivoting to AI infrastructure, many of which have faced recent selloffs amid broader tech and crypto market volatility. Wednesday’s notable movers included IREN (+8%), Cipher Mining CIFR (+11%), and Hut 8 Mining HUT (+6%).

Nvidia at the Heart of AI Supply Chain
The results reinforce Nvidia’s central role in the AI ecosystem. Its GPUs are critical for training large language models, powering data centers, and supporting machine-learning workloads across major tech companies.

Nvidia will host a conference call at 5 p.m. ET as investors seek reassurance that the company’s massive investments in AI infrastructure, software, and next-generation chips are translating into sustainable revenue growth.