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Stock futures climb as Nvidia beats Wall Street earnings estimates: Live updates

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Wall Street is pricing in another blowout earnings report from chipmaker Nvidia.

Nvidia once again raised its forecast, with executives predicting third-quarter revenue would climb to $16 billion, or an increase of 170% on an annual basis.

"The entire tech sector and overall market was waiting for Nvidia with this being the purest and best barometer for AI demand and the results/guidance were a 'drop the mic' moment in our opinion that will have a ripple impact for the tech space for the rest of the year," said Dan Ives, senior equity research analyst at Wedbush Securities.

Elsewhere, the broader field of semiconductor stocks were also trading higher in after hours trading. Shares of

 

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