AI Stock Frenzy: Nvidia’s $54 B Forecast Fuels Rally as Snowflake & MongoDB Surge; Governments & Giants Double Down on AI Boom
In-Depth Report Nvidia’s Blockbuster Earnings Test the AI Trade AI-chip bellwether Nvidia delivered another blowout quarter, underlining the extraordinary scale of the ongoing AI boom. The company’s fiscal Q2 results (reported Aug 27) easily beat estimates, and management issued an even higher forecast for Q3 revenue — about $54 billion, plus/minus 2% reuters.com. That guidance edged past Wall Street’s ~$53.1 billion consensus and implies astonishing 170%+ growth year-on-year, cementing Nvidia as the de facto arms dealer of the AI era. Behind the numbers is “robust demand” from cloud providers expanding generative AI infrastructure reuters.com. Hyperscalers like Microsoft, Google, Amazon and Meta – many