Nvidia Delivers Best Day of the Year 8/27/26

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**Michael Santoli** (0:55)
The bell's bringing an end to the trading day. At the NASDAQ, Werner Enterprises is ringing the bell. We'll be speaking with the company's CEO later this hour. The Closing Bell for the NYSE being rung in Dallas today for the opening of its Texas headquarters. NYSE Texas is a fully electronic equities exchange, the first securities exchange to be incorporated in Texas. Texas Governor Greg Abbott ringing the bell there. Welcome to Closing Bell Overtime live from Studio B at the NASDAQ market site. I am Mike Santoli, Melissa Lee is off today. Stocks higher across the board, a small gain for the Dow, just about 100 points, and the S&P 500 was higher by 7 tenths of 1 percent. Gains of more than 1 percent for both the NASDAQ composite and the NASDAQ 100 Nvidia, of course, a big reason for all that. Up 8 percent, adding more than $400 billion of market cap. We're going to have more on that coming up. But Nvidia, not the only reason for tech's gains today. Cybernames soaring on results from Okta and CrowdStrike and Salesforce, up 23 percent. So, was the SaaSpocalypse overstated? We're going to discuss that as well. But we should note, while tech is lifting the overall market, the other 10 sectors of the S&P were all lower today. Let's get more on that big move in Nvidia and the rest of it with Christina Parts-Nevelis, who is here at the NASDAQ.

**Christina Parchinevelis** (2:11)
Yeah, whatever doubts investors had about AI demand, Nvidia's numbers didn't necessarily show them. The stock jumped about over, what, 8%, it was 9% and pulled the broader chip stocks index up with it after management guided to roughly 70% revenue growth in fiscal 2028, and that was actually the first time you saw a full-year outlook like that. The read-through initially rippled straight into the neoclouds. Nvidia called its non-hyperscale business, the Quarries and Nebiuses of the world, roughly half its revenue and the fastest growing half. That's definitely an endorsement money it can trade on and both rallied, but Nebius was the only one to hold, as you can see up 2% on your screen. The same thing, memory names, the ones you'd expect to win most from Nvidia, soaring component costs, didn't actually hold. Micron, SanDisk, opened higher, faded partly because Nvidia had already locked up much as the supply it needed. SanDisk is also more exposed to the NAND memory. The stronger read was on SK Hynix, given its bigger share of Nvidia's high bandwidth memory. Even Synopsys, 13% today. This is who software Nvidia used to design its chips, rallied on its own outlook for double-digit growth as chip designs get more complex. The bigger takeaway, after months of Nvidia lagging the rest of the chip sector, one guide flipped it. Money moved, and this is what you were talking about with Scott in the last hours, money moved into Nvidia today out of crowded memory trades like Micron, SanDisk, even some of the Mag 7 So rotation writ large, which is why you're not seeing that ripple effect across all of those tech and chip names.

**Michael Santoli** (3:41)
Yeah. I mean, the market is, I guess, unwilling to sort of on a given day say everybody wins or everybody loses.
And it's interesting that the bull case for Nvidia highlighted by the guidance is their balance sheet is basically unmatched. It's a massive competitive advantage. They locked up the supply of a lot of memory components and things like that, as you mentioned. And so does that mean it's a net negative that they have all the levers and the rest of the complex doesn't or tomorrow we're going to make a different decision?

**Christina Parchinevelis** (4:09)
Or then the bears will say net negative because now they owe a lot of money, right? $279 billion. The accounts receivable from January to July went up 63%.
I think it's only five major customers that encompass about 70% of accounts receivable. So it really depends on which side of the fence you sit on. But I think what you highlighted with Scott is that maybe the market is being a little bit more responsible in how they're trading, right? Because they're not just jumping in head first with Nvidia. The stock could be up a lot more given this 70% revenue growth that they provided for fiscal 2028 It's not.