【US Pre-Market】Nvidia Earnings Ignite Market Enthusiasm as Memory Chip Stocks Rally, Nvidia Jumps 8%, Okta Surges 19%

Nvidia surged over 8% in pre-market trading at one point. The company's quarterly results and future guidance significantly exceeded market expectations, and management remained optimistic about AI infrastructure demand, prompting the market to reassess the growth prospects of the AI computing power industry.

Memory chip stocks rose across the board in pre-market trading. SanDisk (SNDK) and Marvell Technology (MRVL) gained over 5%, SK Hynix (SKHY) and Micron Technology (MU) climbed over 4%, while Western Digital (WDC) and Seagate Technology (STX) rose over 3%. Nvidia's strong results further reinforced expectations of growing AI server demand for HBM, NAND, and enterprise storage.

Optical communication stocks generally strengthened in pre-market trading. Lumentum (LITE), Tower Semiconductor (TSEM), Astera Labs (ALAB), and Coherent (COHR) rose over 3%, while Ciena (CIEN) and Corning (GLW) gained over 2%.

Salesforce (CRM) jumped over 12% in pre-market trading. The company's second-quarter revenue grew 11% year-over-year to $11.35 billion, while net profit surged 87% year-over-year to $3.53 billion. Third-quarter revenue guidance was set at $11.42 billion to $11.5 billion, above market expectations, with annual recurring revenue from AI products approaching $4 billion.

Okta (OKTA) surged about 19% in pre-market trading. The company's second-quarter results exceeded market expectations, boosting investor confidence in demand for identity verification and cybersecurity.

CrowdStrike (CRWD) rose about 8.7% in pre-market trading. The company's previously reported quarterly results beat market expectations, and growing demand for AI security continued to support its business performance.

HP (HPQ) fell over 8% in pre-market trading. Although the company's overall third-quarter results beat expectations, declining shipments and profit margins in its PC business sparked market concerns over cost pressures and profitability prospects.

Nvidia's earnings significantly beat expectations. Nvidia's latest quarterly results significantly exceeded Wall Street expectations, with management projecting fiscal 2028 revenue to grow by approximately 70%, far higher than analysts' previous forecast of 45%. The company also stated that Amazon plans to deploy an additional 2 million Nvidia GPUs, further reinforcing market expectations of sustained growth in demand for AI computing power.

Nvidia Chief Financial Officer Colette Kress stated that even if supply remains tight, the company is expected to maintain rapid growth in fiscal 2028, with customer demand forecasts indicating that the scale of AI infrastructure procurement may continue to expand rapidly.

Nvidia reportedly seeks to acquire Hugging Face for $12.9 billion. Nvidia has agreed to acquire open-source artificial intelligence platform Hugging Face for approximately $12.9 billion. If completed, the deal would be one of Nvidia's largest acquisitions in recent years and further expand the company's footprint in the AI software and developer ecosystem.

SoftBank seeks controlling stake in 1X Technologies. SoftBank is reportedly in talks to acquire a majority stake in Norwegian humanoid robotics startup 1X Technologies at a valuation of up to approximately $6 billion, showing that Masayoshi Son continues to step up investment in artificial intelligence and embodied intelligence.

Kioxia and SanDisk plan to expand NAND capacity. Kioxia Holdings announced that it will construct a third wafer fab in Iwate Prefecture, Japan, and expand NAND flash capacity jointly with its manufacturing partner SanDisk to satisfy rapidly growing storage demand from AI servers and data centers.

Iran and Oman continue talks on Strait of Hormuz agreement. Iranian sources said both sides are still discussing specific arrangements for the agreement. The two nations previously reached a preliminary understanding on commercial ship transit routes, but related implementation details have not yet been finalized.

At 8:00 AM ET, the Jackson Hole Economic Symposium takes place, and Fed Chair Kevin Warsh delivers a speech.

At 8:30 AM ET, the U.S. releases initial jobless claims, continuing jobless claims, the July goods trade balance, and wholesale inventories data.

After U.S. market close, Marvell Technology (MRVL) reports quarterly earnings.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.