- NVIDIA stock surged nearly 9% on Thursday after reporting record second-quarter revenue of $96.2 billion, more than double year-over-year.
- President Donald Trump praised the company and CEO Jensen Huang on Truth Social, calling the results a testament to American innovation.
- Retail sentiment on Stocktwits remained ‘extremely bullish,’ though some traders warned that Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could trigger a selloff.
Nvidia Corp. stock surged nearly 9% on Thursday — its best single-day gain in over four months — after the chipmaker posted second-quarter revenue of $96.2 billion, more than doubling year-over-year. The results contradicted critics who had predicted that AI chip demand was cooling, and the company forecast fiscal 2028 revenue growth of roughly 70%, far above analyst estimates of 44%.
President Donald Trump congratulated the company on his Truth Social account, writing: “Nvidia just announced Record Sales of 96.2 Billion Dollars, forecasting a 70% rise in Revenue in 2028. Congratulations to Jensen Huang on these incredible numbers, and the Company’s Great Success. Only in America!” Trump also praised Micron for its $10 billion research lab investment.
However, Nvidia shares slipped 0.5% in overnight trading after reports emerged that the company had paused parts of a new revenue-sharing program with AI cloud firms, though a spokesperson denied the claim, saying the program remains in place.
On Stocktwits, retail sentiment stayed ‘extremely bullish’ for a second day, though one trader cautioned: “$QQQ Jackson hole is a bearish event, sell off will intensify overnight and pre market, by Monday $NVDA ER gains will be melted.” Meanwhile, analysts at JPMorgan, Morgan Stanley, and Evercore ISI raised their price targets on the stock.
Despite Thursday’s rally, Nvidia shares have gained only 22.4% year to date, trailing the 75% rise of the iShares Semiconductor ETF (SOXX) and the 18% advance in the Invesco QQQ Trust. Trump reportedly owns $12.5 million worth of Nvidia stock, along with holdings in Alphabet, Apple, and Microsoft.
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