Nvidia’s Blowout Can’t Calm AI Anxiety
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What is the main topic discussed in this episode?
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Welcome to Profiteer Markets.
I'm Ed Elson. It is February 26th. Let's check in on yesterday's market vitals. The major indices climbed ahead of Nvidia's earnings. More on that in a moment. Bitcoin bounced from recent lows, rallying back towards 70,000. The price of gold, silver, and platinum increased. And finally, Netflix rose 6% in its best day in more than a year. That rally followed reports that Paramount's new offer may be good enough to win the bidding war for Warner Bros. Discovery. Okay, what else is happening? The world's most valuable company, Nvidia, reported earnings yesterday that beat expectations on the top and bottom lines. That was largely driven by data center revenue, which rose 75% year over year in the quarter.
Revenue projections for the current quarter also came in higher than investors had expected. Nvidia stock rose as much as 5% after hours, but then moderated during the call. Salesforce also reported yesterday, but those earnings had a very different outcome. The company's revenue grew 12% in the fiscal fourth quarter, which was its fastest growth rate in two years. However, investors were disappointed with the company's revenue guidance, for 2026. That sent the stock down nearly 6% after hours. Joining us to unpack these earnings, we are speaking with Gil Luria, Head of Technology Research at DA Davidson. Gil, good to see you. I want to start with Nvidia here. Another incredible monster quarter. This keeps on happening.
Everyone thinks that we're going to see an issue and everyone gets very anxious. And then just an unbelievable quarter. Your initial reactions?
Well, not only is it, and it is unbelievable, the numbers are just getting staggering, especially for a company that's so profitable to be able to grow. grow at these rates continuously. But beyond that, they just said they're going to grow sequentially for the rest of the year. They don't typically give more than one quarter out. So the fact that they have that visibility and talked about that going into calendar year 2027 tells you that they have more visibility than ever. Their customers are making longer-term commitments than ever. They can see the rollout of the data centers happening at such a rate and with such a backlog that they know that they'll be able to continue to grow from here on out, which is, again, very impressive, especially when the numbers are this big.
What does this mean for the... I don't know if I could call it AI bubble story at this point. The AI anxiety story, maybe we have to call it. We saw the Citrini Research article that came out this week and got everyone very anxious about AI. We've seen just incredible drawdowns in the software sector, again, because of AI.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–10:25
2
What earnings did Nvidia report and why are they significant?
10:25–13:19
3
How did Salesforce's earnings differ from Nvidia's?
13:19–21:12
4
What does Gil Luria think about the current AI anxiety in the market?
21:12–23:09
5
How are investors reacting to Nvidia's dominance in AI?
23:09–31:35
Speakers
4 identifiedMore from Prof G Markets
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