Fresh earnings from Nvidia brought long-awaited relief to the markets. Weeks of anxiety over a potential bursting of the AI bubble suddenly eased, and cryptocurrencies, which had recently struggled under risk-off sentiment, rebounded along with the broader market.

Record quarter as Nvidia lifts the entire market

The chipmaker reported results for its third fiscal quarter ending October 26, posting yet another set of record numbers. Revenue climbed to $57 billion — a 62% year-over-year increase and well above Wall Street’s estimate of $54.7 billion.

Profit surged even more sharply to $31.9 billion, up 65% from last year. Nvidia also offered a bold outlook for the next period, forecasting $65 billion in fourth-quarter revenue, reinforcing that demand for AI solutions shows no signs of slowing.

These were the numbers the market had been waiting for. Over the past weeks, concerns had grown that the extraordinary pace of investment into AI companies might be unsustainable. The sell-off in tech stocks spilled over into cryptocurrencies.

Bitcoin climbs back above $91,000 with Nvidia’s help

Nvidia’s strong results significantly influenced the largest digital asset. Bitcoin fell to $88,540 on Wednesday — its lowest level since late April. A brief dip below the $89,000 mark underscored rising market tension, with BTC losing over 10% in a single week.

But the turnaround came quickly. Bitcoin jumped to about $91,500 within hours of the earnings release. A similar rebound appeared in ethereum, which dipped below $2,900 for the first time since July but has since climbed back above $3,000.

What does this mean for the market?

Nvidia’s numbers confirmed that demand for AI technologies remains extraordinarily strong and that the sector is far from collapsing, despite growing fears. This shift in sentiment supports cryptocurrencies, which have recently acted as a gauge of investor risk appetite.

Sources:

https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-third-quarter-fiscal-2026

https://cointelegraph.com/news/bitcoin-finally-bounces-outpacing-stocks-ahead-of-nvidia-earnings-will-the-btc-rally-hold

https://cointelegraph.com/news/crypto-tech-stocks-climb-nvidia-q3-earnings