Nasdaq futures jump 1% as Nvidia earnings lift chip stocks
Nvidia's fiscal second-quarter revenue more than doubled and topped forecasts by its largest margin in two years, lifting chip stocks broadly
US futures have risen, driven by a surge in Nvidia's stock. The chip giant's fiscal second-quarter revenue more than doubled and exceeded forecasts by its largest margin in two years, according to Quartz. This led to a 7.63% overnight jump in Nvidia's stock, as reported by Fortune.
The positive earnings report from Nvidia has had a broader impact on the tech sector, with software shares also surging premarket and quieting investor pessimism, as noted by WSJ Markets. The company's revenue guidance has reassured investors that demand for AI will remain strong, leading to increased confidence in the sector, according to CNBC World and CNBC Technology.
Nasdaq futures have jumped 1% as a result of the strong earnings report and the subsequent rise in chip stocks. The overall market sentiment has improved, with US futures up and markets in Asia and Europe mixed, as reported by Fortune.
Brief written by urgent.news from Quartz, Fortune, WSJ Markets, CNBC World, CNBC Technology — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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