Nvidia's Earnings Smash Estimates, but Crypto Bettors Aren't Buying a $250 Close by Month-End

Cryptocurrency bettors are skeptical that NVIDIA Corp. (NASDAQ:NVDA) will close above $250 by the end of August, even as the AI giant’s blowout earnings continue to push the stock higher.

Polyamarket Bets on NVDA’s August Close

Polygon (CRYPTO: POL)-based Polymarket currently assigns only an 8% chance to the possibility, down from 50% the day before.

The odds of NVDA closing above $240 on Aug. 31 were 23%, compared with an 84% probability of a close above $200.

The stock closed at $200.75 on the last trading day in July and has gained 4.4% month-to-date. Over a 30-day period, the stock has gained 6.69%.

Nvidia Delivers Blowout Print

Nvidia reported fiscal second-quarter revenue of $96.2 billion, up 106% year over year, and beating a Street consensus estimate of $92.18 billion.

Adjusted earnings per share were $2.22 in the quarter, beating a Street consensus estimate of $2.10.

Ross Gerber, president and CEO of Gerber Kawasaki, called Nvidia “undervalued” after the results. The veteran investor noted that Nvidia could post nearly $10 in earnings per share this year and suggested a historical multiple of 45 could put the stock around $450.