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Nvidia earnings now rival US jobs report for economic impact

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The company’s results, due late on Wednesday, will have implications for other tech stocks

Nvidia H100 chips inside a server room at the Yotta Data Services Pvt. data center, in Navi Mumbai, India. Company results are due on Wednesday. Photograph: BloombergNvidia’s earnings have become as important for US markets as key economic data, according to analysts, as the chipmaker prepares to announce quarterly results that will allow investors to gauge the health of the artificial intelligence boom.

Nvidia has become “one of the most important events on the macro calendar”, with recent results leading to market reactions “that rival the sort of moves taking place after a surprise US jobs report or consumer prices index release”, said analysts at Deutsche Bank.

Global markets were jolted at the start of the month after weaker-than-expected US jobs data triggered sharp falls for US stock markets.

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