Nvidia Shares Edge Lower After Earnings Beat; Cryptocurrencies Little-Changed

Nvidia (NVDA) reported stronger-than-expected earnings for the second quarter on Wednesday, posting revenue of $46.7 billion, a 56% increase from a year earlier.

The results underscore the chipmaker’s role at the center of the AI boom, as demand for its high-powered processors showed little sign of slowing.

Shares of the company fell 1.7% in after-hours trading, with some noting data center revenue as a bit soft at $41.1 billion against estimates of $41.29 billion.

AI-linked tokens such as Internet Computer (ICP), NEAR Protocol, and Bittensor (TAO) showed little reaction to the news, trading roughly flat from prior to the results.

Bitcoin (BTC), ether (ETH) and XRP (XRP) knee-jerked lower on the news, but quickly retraced those losses, showing roughly no net movement from prior to the earnings.

Wall Street will parse Nvidia’s commentary closely, especially for signs that hyperscalers like Microsoft, Meta, and Amazon are still ramping up chip orders. Analysts are also looking for updates on the company’s work to develop more advanced chips for China, a market where U.S. export restrictions complicate sales.

Nvidia is set to host its earnings call at 5 p.m. E.T., where executives will field questions from analysts.