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Asian Markets Rally After Nvidia Results, India Set to Open Higher as Oil Slips

Asian Markets Rally After Nvidia Results, India Set to Open Higher as Oil Slips

Nvidia’s rare full-year fiscal 2028 outlook for about 70% revenue growth and after-hours gains near 5% lifted Asia-Pacific shares, while dollar-debasement trades supported gold, bitcoin and ether.

Fact Check
The headline claims are confirmed by the primary source. NVIDIA's official Q2 FY2027 earnings release (GlobeNewswire, Aug 26, 2026) states revenue of $96.2 billion and a Q3 outlook of $108.0 billion +/-2%, and highlights Vera Rubin production deployments alongside Spectrum-6 networking growth and financing partnerships targeting over $500 billion of third-party capital. Fortune independently confirms the $96.2 billion figure and the Data Center breakdown. The 85% first-quarter surge is confirmed by NVIDIA's Q1 FY2027 release and the SEC-filed Q1 CFO commentary, both citing record Q1 revenue of $81.6 billion, up 85% year over year. The one discrepancy is Fortune's statement of $91 billion +/-2% guidance, which contradicts the official release and is inconsistent with Fortune's own surrounding detail; the issuer's release is the authoritative figure, so the claim's $108 billion guidance stands.
Summary

Nvidia reinforced the AI trade after forecasting roughly 70% revenue growth for fiscal 2028—an unusual multi-year disclosure from CEO Jensen Huang—and seeing shares rise almost 5% after hours. Reports that Nvidia agreed to pay $12.9 billion for open-source AI platform Hugging Face circulated alongside separate accounts of OpenAI-linked agent activity around that platform. Asian chipmakers in Nvidia’s supply chain advanced, with MSCI’s broadest Asia-Pacific index excluding Japan up 0.5% and South Korea’s Kospi up 1.8% despite a 25-basis-point Bank of Korea hike; S&P 500 e-mini futures rose 0.5%. Brent crude slipped 0.5% to $87.40 on a fourth straight decline as Qatar’s prime minister headed to Tehran to try to relaunch U.S.-Iran peace talks. Gold gained 0.7% to $4,624.14, bitcoin rose 0.5% to $78,822.84 and ether climbed 0.8% to $2,492.30, all aided by renewed dollar-debasement trades after last week’s U.S. Treasury bond-market intervention. Early European futures were mixed, with pan-European contracts up 0.4%, DAX futures up 0.1% and FTSE futures down 0.4%, ahead of earnings from Marvell Technology, Royal Bank of Canada and Pernod Ricard plus euro-area data.

Terms & Concepts
  • Dollar debasement trades: Positions in assets such as gold and major cryptocurrencies that investors use when they expect the U.S. dollar’s purchasing power to erode, often amid fiscal or bond-market stress.
  • KOSPI: South Korea’s benchmark stock index; it rose 1.8% as Nvidia supply-chain chipmakers advanced even after a Bank of Korea rate hike.
  • Hugging Face: An open-source AI model and developer platform that unconfirmed reports said Nvidia agreed to acquire for about $12.9 billion.