Nvidia Posts Record Q2 Revenue of $96.2 Billion, Up 106% YoY, Sending Shares Up 7% and Lifting Broader Tech

Nvidia reported fiscal second-quarter FY27 revenue of $96.2 billion, a 106% year-over-year increase, blowing past analyst expectations and triggering a broad rally in technology markets. The company raised its preliminary FY28 growth outlook to approximately 70%, citing surging AI infrastructure demand, and management noted steps to enable customer financing while diversifying into AI software. Nvidia shares climbed between 7% and 8% in premarket trading on Thursday, with Goldman Sachs and Citigroup both raising their price targets on the stock.

The results lifted Nasdaq futures, chip peers including ARM, Broadcom, Taiwan Semiconductor, AMD, and Intel, as well as software names such as CrowdStrike, ServiceNow, and Zscaler. Bitcoin crossed $80,000 on the session as AI infrastructure companies also advanced. Seeking Alpha analysts noted Nvidia's valuation at roughly 33 times trailing twelve-month unlevered pre-tax free cash flow as inexpensive relative to its growth profile, though some cautioned that strong earnings growth has not historically translated into above-market stock returns for NVDA in the months following a beat.

The results, which Reuters and the WSJ described as suggesting the AI boom has further room to run, arrived as investors also looked ahead to the Jackson Hole economic symposium.