A leveraged “whale” has just placed a high-conviction bet on Nvidia (NVDA) ahead of the chipmaker’s next earnings report. The trader has opened a 10x long worth about $1.66 million on onchain derivatives platform Hyperliquid.

Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

The chip maker reported record revenue, beating Wall Street estimates and increasing current-quarter guidance.

What Happened? Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 1.7% in the afternoon session after investor optimism grew ahead of its fiscal third-quarter earnings report, bolstered by a major new partnership with Microsoft and AI firm Anthropic.

Nvidia (NVDA) shares rose 2.5% in extended trading on Wednesday after the semiconductor giant posted third-quarter results and guidance that were above Wall Street's forecast. Read for more.

The daily timeframe chart shows that the NVIDIA stock price has been in a strong uptrend in the past few years. It recently crossed the important resistance level at $200, bringing its market capitalization to over $5 trillion.

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Nvidia delivered exceptional revenue growth last quarter, fueled by robust demand from generative AI labs and hyperscalers. Find out why NVDA is a Strong Buy.

In the deal announced Tuesday, Nvidia and Microsoft will invest up to $10 billion and as much as $5 billion, respectively, in AI developer Anthropic ( ANTH.PVT ). Anthropic will buy $30 billion of compute capacity from Microsoft Azure, and Anthropic and Nvidia will collaborate on design and engineering, the companies said.