Bitcoin Updates: Doubts About AI Fade as Nvidia's Results Drive Bitcoin Rally

Nvidia Corp. (NVDA) experienced a sharp rise after posting third-quarter earnings that exceeded expectations, boosting

and improving overall market sentiment as doubts about the AI surge momentarily faded. The company's shares climbed 4% in after-hours trading after announcing $57 billion in revenue, and representing a 62% increase compared to the previous year. Revenue from data centers alone reached a record $51.2 billion, . These strong results supported Bitcoin’s recovery, with the digital asset regaining the $90,000 mark after dipping below it earlier in the session .

The financial report, released on November 19, featured optimistic guidance for the fourth quarter,

— well above the $62.1 billion anticipated by analysts. Adjusted earnings per share hit $1.30, . Nvidia’s CFO credited the company’s momentum to “three major platform shifts: accelerated computing, advanced AI models, and agentic applications” . The firm also emphasized its leadership in large-scale AI clusters, with three new chip lines (Blackwell, Blackwell Ultra, and Vera Rubin) .

The upswing in risk assets followed several weeks of turbulence, driven by skepticism in the AI sector and broader economic uncertainty. Investors had been preparing for a possible downturn after prominent short positions against

, and SoftBank’s $5.8 billion divestment. The Federal Reserve’s cautious approach to rate reductions, , which postponed crucial economic reports, also weighed on sentiment. Nevertheless, Nvidia’s performance reassured investors that AI demand remains robust, .

Nvidia’s latest results further cemented its position as a leader in AI infrastructure, especially within data center operations. This achievement not only reflects the company’s technological progress but also highlights the rising significance of AI-powered solutions across various sectors

. Nvidia’s strategic emphasis on AI, together with the introduction of new chip generations, in the fast-changing world of computing.

Bitcoin’s rally echoed the rebound in tech stocks, with blockchain data indicating speculative buying ahead of Nvidia’s earnings announcement. The cryptocurrency’s 4% surge to $93,700 briefly outperformed U.S. stocks, as the Nasdaq 100 fell 1.5% on Tuesday

. However, analysts observed that institutional interest remained subdued, as shown by the Coinbase premium dropping to -$114, signaling that retail investors were driving the momentum .

While short-term optimism is apparent, longer-term hurdles persist. Google’s Tensor Processing Units (TPUs) are gaining ground,

, and both AMD and Intel continue to challenge Nvidia’s market dominance. Analysts at Bank of America recognized seasonal worries about cloud spending but highlighted Nvidia’s “demonstrated full-stack execution” as a significant advantage . Meanwhile, the Federal Reserve’s December meeting and the delayed release of September employment data could bring renewed market swings .