Trump Praises Nvidia's 'Incredible Numbers' After Q2 Stunner — He Also Reportedly Holds Over $12M In The Stock

Nvidia’s second-quarter report delivered a thumping signal that chip demand and AI development remain far from slowing, defying forecasts from some critics.

• NVDA rose nearly 9% on Thursday, with retail sentiment on Stocktwits holding in the ‘extremely bullish’ zone for a second day.
• President Donald Trump praised Nvidia and its CEO Jensen Huang on the company’s strong Q2 report.
• Nvidia’s revenue more than doubled to $96.2 billion, and the chipmaker forecast 70% growth in fiscal 2028.

Nvidia Corp. stock rose nearly 9% on Thursday, marking its best day in more than four months and breaking a long-running pattern of selloffs in the session after upbeat results. U.S. President Donald Trump posted congratulations on his Truth Social account and said such feats are only possible in America. 

“Nvidia just announced Record Sales of 96.2 Billion Dollars, forecasting a 70% rise in Revenue in 2028. Congratulations to Jensen Huang on these incredible numbers, and the Company’s Great Success. Only in America! President DONALD J. TRUMP,” he said in a post late Thursday.

Trump has repeatedly weighed in on Nvidia and other major tech companies, praising their investments and pushing them to expand manufacturing and jobs in the U.S. while also using tariffs, export controls and other policies to pressure the industry. 

In a separate post, Trump also praised Micron’s recent initiative to set up a research lab with an outlay of $10 billion. “GREAT NEWS! Micron, one of the “HOTTEST” Companies in the World, just announced a MASSIVE 10 BILLION DOLLAR Investment in new Research Labs right here in America. They are keeping us at the absolute forefront of A.I. and Advanced Computing!” he wrote.

Trump said his administration is positioning the U.S. to lead a new “Golden Age of Science,” pointing to trillions of dollars in corporate investments as evidence that companies view the country as the world’s best place to build, innovate and expand.

To be sure, Trump has positions in Nvidia and Micron, among several big tech firms, according to his recent financial disclosures in July. He reportedly owns $12.5 million worth of Nvidia stock, alongside holdings in Alphabet, Apple, Microsoft, and Broadcom, among others.

Nvidia’s Cloud Deals In Focus

Nvidia shares pulled back slightly and were down 0.5% in overnight trading following a report that the chipmaker had paused some new revenue-sharing deals with AI cloud companies.

The Wall Street Journal reported, citing its sources, that Nvidia backed away from parts of a financing and revenue-sharing program aimed at cloud companies and unveiled last month. Nvidia has denied the report, with a spokesperson telling Reuters that the program was “still in place and continues to evolve due to high demand.”

Nvidia Report Silences AI Critics

For investors, Nvidia’s second-quarter report delivered a thumping signal that chip demand and AI development remain far from slowing, defying forecasts from some critics.

The AI chipmaker’s revenue more than doubled to $96.2 billion, and it forecast fiscal 2028 sales to grow about 70% versus analysts’ estimates of 44% growth. Peer chipmakers Intel and Broadcom gained over 4% on Thursday, while the tech-heavy Invesco QQQ Trust Series 1 (QQQ) advanced 1.4%.  

Retail, Analyst View On Nvidia

On Stocktwits, retail sentiment for NVDA remained ‘extremely bullish’ for a second day, with traders eyeing macro triggers. They mentioned that Federal Reserve Chairman Kevin Warsh’s Jackson Hole address on Friday would have a bearing on the NVDA stock and broader market.

“$QQQ Jackson hole is a  bearish event, sell off will intensify overnight and pre market, by Monday $NVDA ER gains will be melted,” said a trader.

Scores of analysts, including JPMorgan, Morgan Stanley and Bernstein, raised their price targets on NVDA following its report. Evercore ISI, which raised the price target to $465 from $413, said Nvidia’s "proactive demand-supply management strategy" positions it to sustain growth momentum.

Despite a string of blowout quarters, Nvidia stock has curiously trailed chip peers. Following Thursday’s rally, the stock is up 22.4% year to date compared to the 75% gains in iShares Semiconductor ETF (SOXX). The Invesco QQQ Trust Series 1 (QQQ) advanced nearly 18% in this period.

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