Blowout earnings ease fears of an AI slowdown and help lift Bitcoin above intraday lows
Crypto assets and major technology stocks staged a notable rebound late Wednesday after Nvidia delivered record-breaking third-quarter earnings, offering reassurance that demand for artificial intelligence hardware remains robust. The results helped calm investors who had grown uneasy about a potential cooling in the AI sector.
Nvidia earnings renew confidence across markets
Nvidia announced $57 billion in quarterly revenue, sharply exceeding expectations and marking a 62% year-over-year surge. Profit climbed to $31.9 billion, also above forecasts, while the company projected $65 billion in revenue for the current quarter—a signal that AI infrastructure spending is still accelerating.
This performance helped counter recent fears that the AI boom was losing steam.
One market strategist said the numbers were “a clear indicator that AI-driven demand remains intact.” Another analyst noted that “Nvidia’s guidance suggests corporate investment in AI is still in its early stages, not at a peak.”
Shares of Nvidia jumped more than 5% in after-hours trading, extending a year-to-date gain of nearly 40%.
Crypto stocks push higher following earnings
The upbeat results provided a lift to several crypto-linked equities, including Coinbase, MicroStrategy and Circle, all of which saw after-hours gains. Crypto exchange Bullish also rose around 1%, recovering from an earlier decline.
A digital-asset analyst said, “Investors were waiting for a benchmark to gauge AI sentiment. Nvidia delivered exactly that, and risk assets responded immediately.”
Tech giants followed suit, with Apple, Amazon, Alphabet, Meta and Microsoft all posting post-market gains.
Bitcoin rebounds after slipping below $89,000
The momentum spilled into the digital-asset market, where Bitcoin recovered from a drop to $88,540, its lowest level in nearly seven months. The leading cryptocurrency bounced back toward $91,500, easing some of the week’s broader sell-off.
The move aligned closely with Nvidia’s earnings release, signaling renewed appetite for risk assets.
Ether also rebounded after dipping under $2,900 for the first time since July, reclaiming the $3,000 level by early Thursday.
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