Nasdaq jumps as Nvidia revenue outlook lifts chip stocks: Live updates

JUST IN: Nasdaq jumps 1.6% as Nvidia's revenue outlook tops analyst forecasts, lifting chip stocks across the board.

Nvidia jumped nine percent and took the whole Nasdaq with it.

The tech-heavy index closed up one point six percent after Nvidia beat expectations and forecast revenue growth of seventy percent in fiscal 2028. Analysts had pencilled in forty four. Second quarter revenue more than doubled. You can see the mood on the floor here, traders at the New York Stock Exchange watching chip stocks catch fire. Broadcom up four percent, Intel three, and the semiconductor ETF gained three as well.

Jensen Huang keeps making the sceptics look early. There's been real anxiety about whether all this AI spending ever pays for itself, the circular financing question, and one strategist told CNBC this buys that debate a quiet spell. Maybe. The whole market is now leaning on one company's guidance.

And tomorrow the spotlight moves to Jackson Hole, where Fed Chair Kevin Warsh speaks. A hawkish word from him could hand all of this right back.

This is Angel Manalo, reporting for HIT.