Nvidia’s Blowout Quarter Eases AI-Bubble Jitters as Wall Street Reverses

Overview

• Nvidia reported $57 billion in third‑quarter revenue and $31.9 billion in net income, topping estimates with profit up 65% year over year.
• Data‑center sales hit a record $51.2 billion, including $43 billion in compute and $8.2 billion in networking, as CEO Jensen Huang rejected talk of an AI bubble.
• The company said Blackwell and cloud GPUs are effectively sold out, but CFO Colette Kress flagged export hurdles and no China data‑center compute revenue this quarter.
• Stocks rallied across Asia and Europe and opened higher in the U.S., then reversed sharply as tech led losses, volatility spiked and Nvidia shares ended down about 3%.
• Risk assets showed cross‑currents, with bitcoin climbing to roughly $92,000 after the results, while a mixed U.S. payroll report tempered rate‑cut expectations and encouraged profit‑taking.