Nvidia stock price jumps on stunning growth forecast as Hugging Face acquisition rumors swell

Shares of Nvidia Corporation, the world's largest technology company, rose in premarket trading on Thursday following the release of its impressive second-quarter results for fiscal 2027 and a rosy forecast for the upcoming fiscal year. The company reported revenue of $96.2 billion and data center revenue of $89.0 billion, marking double-digit growth year-over-year.

Adjusted earnings per share stood at $2.22, which far exceeded analysts' predictions. CEO Jensen Huang highlighted that AI has reached a critical inflection point, and demand is accelerating, with Nvidia's data center business now diversified across multiple customers. In addition to the strong financials, rumors swirled that Nvidia had agreed to purchase AI repository Hugging Face for almost $13 billion, a move that could bolster the company's position in the burgeoning open-weight and open-source AI communities.

Nvidia's stock price climbed around 6% in response to the earnings report and optimistic outlook, pushing its share price to approximately $222.25 per share in pre-market trading.