On August 27, GraniteShares 2x Long NVDA Daily ETF rose 8.39% in after-hours trading, trading at $34.25/share, with turnover of $92.62 million. The rally was driven by NVIDIA's stronger-than-expected Q2 earnings release after the bell.

NVIDIA reported fiscal Q2 revenue of $96.2 billion, up 106% year-over-year, surpassing analyst estimates of $92.38 billion. Adjusted earnings per share came in at $2.22, beating the consensus estimate of $2.10. Hyperscale cloud revenue reached $48.71 billion versus expectations of $43.55 billion. The company guided Q3 revenue to approximately $108 billion, above the Street estimate of $105.15 billion. Additionally, NVIDIA disclosed that its Vera Rubin architecture has entered full production, with plans to simultaneously deliver both Blackwell and Rubin generation systems, though management acknowledged certain supply constraints in the near term.

As a 2x daily leveraged ETF tracking NVIDIA stock, GraniteShares 2x Long NVDA Daily ETF moved in amplified lockstep with the underlying share price appreciation following the earnings release.

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