NASDAQ rises as Nvidia’s earnings fuel tech rally

Nvidia just posted the kind of quarter that makes analysts look like they’re playing with a broken calculator. The chipmaker reported fiscal Q2 2027 revenue of $96.2 billion, more than doubling its year-ago figure and sailing past Wall Street’s consensus estimate of roughly $92.2 billion. The Nasdaq Composite responded by climbing approximately 1.3% to 1.4% on August 27, touching an intraday high near 26,497. Nvidia’s stock surged between 8% and 10% on the day, vaulting the company’s market capitalization back above $5.5 trillion. The numbers behind the monster quarter The data-center segment did the heavy lifting, generating $89 billion in revenue. That represents a 117% increase year-over-year, driven almost entirely by insatiable demand for AI training and inference hardware. Adjusted earnings per share came in at $2.22, comfortably above analyst estimates that clustered around $2.09 to $2.10. GAAP net income hit $59.69 billion for the quarter. But the real catalyst for the stock’s surge wasn’t the backward-looking numbers. It was the forward guidance. Nvidia projected Q3 revenue of approximately $108 billion, plus or minus 2%. For fiscal 2028, the company projected revenue grow...