Dow Jones and S&P500 gain up to 0,7%, NASDAQ jumps 350 points; NVIDIA posts record earnings

The US stock market maintained the streak for the second consecutive day as the key benchmark indices closed in green on Wednesday. The S&P500 and Dow Jones rose 0.5% and 0.7%, while the NASDAQ jumped 1.4% ahead of the NVIDIA earnings, which came in after market hours. The NVIDIA shares closed flat after oscillating between gains and losses throughout the day.

At the stock-specific level, the software stocks continued the rally for the second consecutive day as investors reassessed the impact of AI on software services. Shares of software and tech firms like Oracle jumped 1.2%, Microsoft rose by 3%, and Palantir by 4.2%. The optimism came after Anthropic announced partnerships with software companies to develop plugins for different areas, like financial services, human resources, legal, equity research, healthcare and others.

At the geopolitical level, the 10% tariffs announced by President Trump were imposed on Tuesday, but no official order has been received to increase them to 15%. The gold and silver prices remained in positive territory throughout Wednesday and extended the rally on Thursday morning.

NVIDIA results

NVIDIA posted robust earnings for the quarter under review, topping analyst estimates with record revenue and a sharp jump in profits. The chipmaker posted a revenue of $68 billion, up 73% YoY, as compared to $39 billion in the previous year’s same quarter.

The data centre segment remained the top contributor to the revenue at $62 billion, making 91% of the total sales during the quarter. Additionally, the margins for the quarter also beat the analyst expectations at 75%, as against 73% in the year ago period.

Lastly, the net income for the quarter jumped 94% YoY to $43 billion, up from $22 billion in the year ago period and beating the consensus expectations of $37 billion.

“Computing demand is growing exponentially, the agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today, delivering an order-of-magnitude lower cost per token, and Vera Rubin will extend that leadership even further,” said Jensen Huang, founder and CEO of NVIDIA