Tech and crypto markets saw renewed optimism in after-hours trading on Wednesday after Nvidia delivered quarterly results that surpassed expectations, helping to ease concerns that investor enthusiasm for artificial intelligence had grown overheated.
The semiconductor giant reported record revenue of $57 billion for the third quarter ended Oct. 26, a 62% climb year-over-year and significantly above the $54.7 billion expected by analysts.
Nvidia also announced quarterly profit of $31.9 billion, up 65% from last year, with full-year forecasts indicating demand for AI-related products remains robust.
The upbeat report arrived amid a stretch of weakness for tech equities, as investors feared the sector’s rapid AI-driven gains could be unsustainable.
Crypto and Tech Stocks Move Higher After Hours
Shares of Nvidia climbed more than 5% to $196 in post-market trading after closing the session at $186.52.
The positive earnings surprise triggered a broader rebound across crypto-linked companies, with Coinbase, Strategy and Circle Internet Group all seeing modest after-hours increases following declines earlier in the day.
Crypto exchange Bullish also gained about 1% after the bell, reversing a portion of its 3.7% drop despite reporting its strongest quarter since going public.
Major tech stocks including Apple, Microsoft, Alphabet, Amazon and Meta likewise moved higher in extended trading, reflecting improved sentiment across the broader sector.
Bitcoin and Ether Recover from Intraday Lows
The upbeat earnings report provided a lift to Bitcoin, which has suffered more than 10% losses over the past week during a broader market downturn.
Bitcoin dipped to $88,540 late Wednesday, its first time below $89,000 since late April.
The world’s largest cryptocurrency later climbed back toward $91,500 shortly after Nvidia released its earnings, easing some downward pressure.
Ether experienced a similar trajectory, falling to $2,873 — its lowest level since mid-July — before recovering above $3,000.
Analysts say the correlation between crypto assets and tech stocks appears to have strengthened as investors continue to treat both sectors as high-risk plays responsive to macro conditions.
Nvidia’s robust results, they say, may offer short-term relief to markets that have been rattled by concerns over rate policy, slowing growth and potential froth in AI-driven valuations.
