Nvidia posts blockbuster earnings, propels Dow 300-point jump
Nvidia delivered blockbuster earnings that fueled a more than 300-point gain in the Dow Jones and pushed the S&P 500 to near-record highs before the Memorial Day weekend. Bitcoin miners Core Scientific, Cipher Mining, Hut 8 and HIVE Digital rallied on Nvidia’s strong results and sustained AI-driven demand.
1. Nvidia Earnings Drive U.S. Stock Rally
Nvidia released blockbuster quarterly results that significantly exceeded analyst expectations, sparking a broad U.S. equities rally. The Dow Jones Industrial Average climbed over 300 points and the S&P 500 neared an all-time high, underpinned by lower Treasury yields and softer oil prices alongside Nvidia’s outperforming performance.
2. Ripple Effects on Crypto Miner Stocks
Shares of Bitcoin miners closely tied to high-performance computing and AI data centers jumped following Nvidia’s results. Core Scientific, Cipher Mining, Hut 8 and HIVE Digital all saw gains as investors bet on increased demand for Nvidia’s GPUs in cryptocurrency mining operations.