NVIDIA Earnings Released: Why Today’s Numbers Could Sway Tech and Crypto

NVIDIA has released its Q3 earnings after the U.S. market closed earlier today. Into the print, crypto markets have stayed cautious, and the day’s tone has hinged on whether equities digest the update cleanly or slide into a fresh risk-off swing that bleeds into digital assets.

NVIDIA reported fiscal third-quarter earnings of $57 billion, exceeding the $54.92 billion expected by Wall Street, and EPS of $1.30, also exceeding the $1.25 expected.

NVIDIA Earnings Test and The Risk Relay

NVIDIA has forecast fourth-quarter fiscal 2026 revenue of about $65 billion, plus or minus 2%, and expects GAAP and non-GAAP gross margins of roughly 74.8% and 75.0%. The company has also guided for about $6.7 billion in GAAP operating expenses, $500 million in other income, and a 17% tax rate, signaling confidence that AI-driven demand will sustain elevated profitability.

The release lands at a point when equity indices have been unusually sensitive to AI-hardware demand trends, export constraints, and supply timelines, which means any miss or soft guidance could widen tech-sector drawdowns and tighten cross-asset correlations just as after-hours liquidity thins.

A revenue mix that points to slower data-center orders or elongated delivery cycles would typically raise beta across semiconductors, and those moves have tended to trigger de-risking that reaches crypto during the U.S. evening handover and into the Asia open.

A cleaner result with steady commentary on supply, deliveries, and capital spending would more likely stabilize equity futures and ease the defensive rotations that have coincided with weaker closes in digital assets this month, since index volatility often resets the short-term relationship between tech and crypto during event windows.

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Crypto Liquidity, ETF Flows, and Positioning Around The Release

Spot order-book depth for BTC and ETH has lagged the headline pace of the month’s swings, and spreads have widened around key U.S. time stamps, so shocks that hit when books are thin can produce outsized crypto moves relative to the underlying news.

When that pattern appears, futures funding and basis usually recalibrate first, with spot stability showing up only after market makers rebuild inventory and tighten quotes, which leaves intraday bounces vulnerable if equity futures fade into the close.

ETF activity and stablecoin supply trends offer a second layer that has mattered for durability: net outflows from Bitcoin vehicles on risk-off days have lined up with heavier late-session pressure, while stretches of rising stablecoin float have coincided with firmer spot settlement and less reliance on leverage to support rebounds.

If tonight’s tech reaction shows tighter financial conditions, these channels often determine whether bids return promptly or whether the market leans on short-covering that exhausts quickly.

Crypto Fear and Greed Index (Source: CoinMarketCap)

Dollar Moves, Policy Indicators, and The Risk Read-Through

Macro context has remained central, because a firm dollar on growth unease or tighter conditions has tended to weigh on global risk, whereas a softer dollar on relief has supported equities and, by extension, crypto pairs that trade in step with index futures during event-driven sessions.

NVIDIA’s color on demand, supply chains, and customer spending plans feed that policy-growth mix, since AI-hardware cycles have become shorthand for investment appetite across large-cap tech and for the earnings breadth that anchors equity sentiment.

Against that backdrop, the near-term crypto path depends less on a single headline and more on whether liquidity rebuilds alongside calmer basis while ETF and stablecoin series move in a direction that supports cash-driven accumulation rather than transient squeezes.

If those pieces lean constructive after the numbers post, risk tends to settle across both screens; if they diverge in the hours following the call, volatility usually lingers into the next session.