Nvidia shares jumped 9.3% on August 27 after the chipmaker’s fiscal second-quarter results and forward revenue guidance topped Wall Street estimates, powering the Nasdaq to a gain of more than 1.4% on the day even as the Dow slipped slightly. The rally was reinforced by strong showings from Salesforce, up more than 20%, and CrowdStrike, up 9%, both climbing on their own earnings beats.
Core inflation remains stuck at 3.3%, well above the Federal Reserve’s 2% target, leaving investors watching closely for signs that the AI-fueled spending boom can keep outrunning the economy’s soft spots. As one analyst put it, Nvidia “once again delivered stronger-than-expected results, providing some reassurance that the AI investment cycle remains intact.”