Nvidia presented quarterly results that beat estimates and issued a robust outlook that eased volatility in markets. At the same time, Bitcoin crossed again the psychological threshold of $90,000 after a rapid recovery that followed a sharp drop days earlier. The twin developments underscored a renewed bid for risk assets as investors reassessed technology earnings and crypto flows.
Nvidia beat estimates across revenue and earnings, with guidance above consensus. The company reported revenue of $57.01 billion for the quarter ended October 26, versus an analyst consensus of $55.19 billion, and earnings per share of $1.30 over the estimate of $1.26. The main engine was the data center segment, with revenue of $51.2 billion versus $49.34 billion expected. For the next quarter the company projected revenue near $65.0 billion, above the consensus of $61.98 billion.
The figures sparked an immediate rally and eased doubts about AI hardware demand. The stock rose 5% in after-hours trading, which translated into an approximate addition of $220 billion to a market capitalization near $4.42 trillion. Before the results, shares had fallen about 8% in November after a cumulative rise of 1,200% in the prior three years; the reaction shows the release partly eased doubts about the sustainability of demand for AI hardware.
CEO Jensen Huang reinforced the narrative of sustained demand while acknowledging execution dependencies. He described the fourth quarter as “crazy good” and said that Blackwell sales were “off the charts,” in addition to pointing to “visibility” of meaningful revenues from Blackwell and Rubin through the end of 2026. That statement reinforced the narrative of sustained demand, although it also highlights the company’s reliance on adoption cycles of large models and on commercial execution.
Nvidia results and market reaction
Regulation and compliance: Nvidia noted impacts related to export controls: U.S. restrictions on advanced H20 chips to China implied a projected $8.0 billion revenue loss for fiscal Q2 2026 and a $4.5 billion charge in Q1. These effects illustrate how trade policy and technology sanctions can materially affect the accounts and require monitoring by investors and operators with global exposure.
Bitcoin fell below $90,000 amid technical signals and ETF outflows before rebounding. On November 18, 2025, it touched a level not seen in seven months, wiping out gains accumulated in 2025 and standing between 28% and 30% below the October peak ($126,000). Factors that accelerated the drop included the formation of a technical “death cross” and heavy redemptions in ETFs: there was an outflow of $1.26 billion from BlackRock’s Bitcoin ETF, a sign of institutional capital withdrawal.
A swift intraday recovery highlighted buy-the-dip behavior and sovereign participation. In the same session, intraday Bitcoin traded between $91,400 and $92,900. The buy-the-dip had notable actors; El Salvador added 1,090 BTC, worth roughly $100 million during the dip, underscoring behavioral differences between private investors and sovereign decision-makers.
Nvidia’s strength intersected with crypto dynamics to support risk appetite. The collision between confidence in traditional technology and the dynamics of digital assets became evident: Nvidia’s strength helped ease tensions in risk assets, which, combined with selective buying in the crypto space, contributed to Bitcoin’s rapid recovery.
