Bitcoin Today News: NVIDIA Revenue Hits Record 57 Billion, BTC Rebounds Breaking 91,000

NVIDIA announced that its third-quarter revenue was $57.01 billion, nearly $2 billion higher than Wall Street's expectations, with the data center business contributing $51.2 billion. Today's news on Bitcoin shows that the Bitcoin price rebounded to above $91,000 after previously falling below $89,000, and NVIDIA's strong performance has brought confidence to investors amid concerns about a bubble in risk assets.

NVIDIA's earnings report exceeded expectations by nearly 2 billion dollars, igniting tech stocks

The chip giant announced that its earnings per share for the third fiscal quarter were $1.30, with revenue of $57.01 billion, both exceeding previous expectations of earnings per share of $1.26 and revenue of $55.2 billion. Its data center business, which supports artificial intelligence applications, contributed $51.2 billion in revenue, showing significant growth compared to previous quarters. This figure is compelling, as the data center business accounts for 89.8% of total revenue, demonstrating that NVIDIA has completely transformed into the absolute leader in AI infrastructure.

CEO Jensen Huang pointed out that the market demand for the company's Blackwell chip architecture and cloud GPUs remains strong, with products still sold out. Blackwell is NVIDIA's latest generation AI chip architecture, which shows significant improvements in training and inference performance compared to the previous Hopper architecture. The sold-out status indicates that NVIDIA is facing not a demand issue but a production capacity bottleneck, which is the most ideal business situation.

NVIDIA's earnings outlook is also very optimistic, with a projected revenue of $65 billion in the fourth fiscal quarter, exceeding analysts' previous forecast of $62 billion. This expectation once again surpasses market expectations by $3 billion, demonstrating management's strong confidence in future demand. The quarter-over-quarter growth from $57 billion to $65 billion exceeds 14%, a growth rate that is extremely rare for a company with a market capitalization of $5 trillion.

CFO Colette Kress pointed out that another driving factor behind the company's performance is that CUDA accelerators extend hardware lifespan, enhance customer value, and solidify NVIDIA's competitive advantage in the artificial intelligence infrastructure space. CUDA is NVIDIA's proprietary software ecosystem, and the more time and resources developers invest in CUDA, the harder it becomes to switch to competitors' platforms. This ecosystem lock-in effect is NVIDIA's strongest moat.

Despite the gaming division's revenue of $4.3 billion, which was slightly below expectations, it still achieved a solid return. While the gaming business is no longer NVIDIA's growth engine, it continues to provide stable cash flow. More importantly, the technological accumulation in the gaming market lays the foundation for AI chip development, creating a technical synergy between the two business lines.

NVIDIA Q3 Key Data

Total Revenue: 57.01 billion USD (exceeding expectations by 2 billion USD)

Data Center Revenue: 51.2 billion USD (accounting for 89.8% of total revenue)

Earnings per Share: $1.30 (beat expectations by $0.04)

Fourth Quarter Expectation: $65 billion (exceeding analyst forecasts by $3 billion)

Market Cap: Breakthrough 5 trillion USD, the highest in the world.

Stock Price Performance: Soared 5% after the earnings report, up 37% year-to-date.

Bitcoin Today News: V-shaped Rebound from $89,000

(Source: CoinMarketCap)

On November 20, during the Asian morning session, the price of Bitcoin experienced a dramatic rebound in today's Bitcoin news, quickly rising above $91,000 after dropping to a low of $89,000. This rapid rebound indicates that, despite the uncertainty, some investors still view the current price as a good entry point. Analysts attribute much of the downturn in the cryptocurrency market to growing concerns about a potential artificial intelligence bubble.

The price of Bitcoin has fallen 27% from its peak of over 126,000 USD in the previous six weeks, triggering panic in the market. The low point of 89,000 USD is roughly the average entry price for ETF investors, meaning most institutional holders are around breakeven at this level. The strong support at this price level comes not only from technical aspects but also from the cost defense of institutional investors. When the price hits 89,000 USD, ETF investors have a strong incentive to add to their positions or at least not to sell, as it relates to their investment performance.

NVIDIA's better-than-expected earnings report has become an important catalyst for Bitcoin's rebound in today's news. As the AI industry leader proves that demand remains strong and concerns about a bubble are excessive, risk assets generally benefit. Bitcoin, as a high beta risk asset, is extremely sensitive to changes in tech stock sentiment. NVIDIA's stock price surged 5% after the earnings report, and chip manufacturers like AMD and Micron also benefited; this collective rise in tech stocks provides a favorable macro environment for Bitcoin's increase.

Recent market volatility indicates that the correlation between cryptocurrencies and traditional risk assets is increasing. The fall of Bitcoin aligns with the downward trends of major stock indices such as the S&P 500, Nikkei 225, Hang Seng Index, and Stoxx Europe 600. Nowadays, stocks related to cryptocurrencies are increasingly seen as closely linked to the global risk environment. This high correlation means that Bitcoin is no longer an independent asset class, but rather a part of the global risk asset portfolio.

AI Bubble Concerns and Institutional Sell-off Wave

Recently, major investors have shown a cautious attitude towards artificial intelligence concept stocks, which is an important backdrop for the fall of Bitcoin in today's news. Peter Thiel sold $100 million worth of NVIDIA shares, and SoftBank also sold approximately $5.8 billion in stocks. These actions have sparked discussions about whether this round of rally driven by artificial intelligence can be sustained.

Regulators have also issued warnings. The Bank of England has warned that the widespread application of artificial intelligence in the financial sector could pose systemic threats. The International Monetary Fund also mentioned bubble risks in its Global Financial Stability Report. A survey by Bank of America found that 45% of fund managers believe that an artificial intelligence bubble is the biggest market threat. Google CEO Sundar Pichai and JPMorgan's Daniel Pinto both warned of “irrational behavior.” The CEO of Klarna expressed concerns about the massive data center investments driven by demand for artificial intelligence.

However, NVIDIA's performance in the third quarter boosted investment sentiment in the artificial intelligence sector. Despite previous doubts about its accounting methods for data centers, NVIDIA defended its business model during the earnings call. Strong performance demonstrates that despite the skepticism, demand for artificial intelligence remains robust. Bitcoin prices also seem to benefit from this renewed optimism.

AI Bubble Controversy: Two Perspectives

Skeptics' Evidence: Giants like Peter Thiel are selling off, 45% of fund managers are sounding the alarm, and central banks and the IMF are warning of systemic risks.

Supporting Evidence: NVIDIA repeatedly exceeds expectations, Blackwell sold out, Q4 expectations raised again, data center demand remains strong.

Discrepancies in Bitcoin Technology Prospects and Future Outlook

There are still differences in the technical outlook for Bitcoin. Some analysts interpret the current trading as a reaccumulation—long-term investors are buying at lower prices. Other analysts believe that buyer fatigue indicates a possible larger pullback in the future. Over the past six weeks, the global cryptocurrency market capitalization has evaporated by more than $1 trillion, down a quarter from last October.

NVIDIA's strong performance has brought some comfort to investors amid bubble concerns. However, whether this can boost overall market confidence or is merely an exception remains unclear, as investors continue to weigh complex signals such as the valuations of tech companies and economic outlooks. Gold is typically viewed as a safe-haven asset, but it has also experienced volatility driven by uncertainty. Rising U.S. interest rates and a recent decrease in expectations for Fed rate cuts have both put pressure on gold and cryptocurrencies.

From a technical perspective, whether $91,000 can hold will determine the short-term direction. If today's Bitcoin news continues to be positive, along with the tech stock rebound brought by NVIDIA's earnings report, Bitcoin may retest the $95,000 to $100,000 range. Conversely, if $91,000 is lost again, it may retest the deeper support level of $85,000 to $87,000.

NVIDIA's market capitalization recently broke the 5 trillion dollar mark, solidifying its position as the highest valued company globally. The stock has risen 37% year-to-date and has accumulated a 25% increase over the past 12 months. After the earnings report was released, NVIDIA's stock price surged by 5%, and chip manufacturers like AMD and Micron also benefited from the artificial intelligence wave. This collective rise in the tech sector has injected positive energy into the cryptocurrency market, and the rebound of Bitcoin news today is occurring against this backdrop.