Want Your Stock to Double? Get Jensen Huang to Dinner
At a Glance
- Nvidia posted $96.2 billion in Q2 revenue, beating the $92.2 billion consensus
- Company projects 70% revenue growth next year, far above the 44% analysts expected
- Stock jumped over 4% in after-hours trading on the news
- Nvidia says it can only meet 70% of current customer demand
- CEO Jensen Huang jokes that his dinner companions see their stock prices soar the next day
Nvidia just blew past earnings expectations, and Jensen Huang’s dinner table has become an unlikely market indicator.
Nvidia’s second-quarter numbers landed well above forecasts on Wednesday, and during the earnings call, Huang made headlines for something other than chips: his dinner habits.
Key Details
Nvidia reported $96.2 billion in quarterly revenue, topping the $92.2 billion Wall Street expected. The company also guided for 70% revenue growth next fiscal year, nearly double the 44% analysts had penciled in, a jump that could add over $100 billion in revenue beyond current models.
CFO Colette Kress and Huang admitted supply is still tight. Nvidia can currently fill only 70% of customer demand, Huang said, calling the entire supply chain “challenged” as new capacity slowly comes online.
Asked by a Goldman Sachs analyst to rank Nvidia’s biggest bottlenecks, from power to memory to foundry capacity, Huang sidestepped the question with a joke instead: “One of the funnest things to do is just go figure out where I go for dinner, and who I have dinner with. Their stock price doubles the next day.”
Market Reaction
Nvidia shares climbed more than 4% in after-hours trading on the earnings beat. The joke wasn’t far off history, either. LG jumped 30% after reports Huang would meet its chairman, and Korean fried-chicken stocks rallied after he shared a meal with Samsung and Hyundai executives.
Why It Matters
For traders, this is a reminder that sentiment can move markets just as fast as fundamentals. A single dinner photo out of Seoul or Taipei can spark real volatility in unrelated stocks.
Nvidia’s supply constraints aren’t going away soon, and neither is the market’s obsession with Huang’s calendar. Keep an eye on where he eats next.
Stay ahead of every market-moving headline with QuoMarkets.
Source: Yahoo Finance
