Nvidia earnings will be major test for AI demand, market rally

) investors expect the chip designer to forecast quarterly revenue above estimates when it reports results on Wednesday. Their only question is, by how much?

The results could also dictate the direction of the wider market next week, as most of the S&P 500′s gains this year have come from the AI-driven rally in Nvidia and Big Tech stocks. Citi analysts said last week they were only modeling a revenue forecast of around $12 billion, but buy-side expectations have gone up to $14 billion.

Investors will be looking at sales at Nvidia’s data center unit, home to its prized H100 chip used in AI, to see if the valuation can be justified.Analysts said Nvidia is able to meet only half the demand and its H100 chip is selling for double its original price of $20,000, adding the trend could go on for several quarters.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bruised Stocks Face Week Full of Tests, From Nvidia to PowellEquity traders reeling from the market’s worst stretch since February face some pivotal events in the days ahead, and a closely watched speech by Federal Reserve Chair Jerome Powell may not even be the biggest test of all.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Futures climb as focus shifts to Powell at Jackson Hole, Nvidia earnings(Reuters) - U.S. stock index futures rose on Monday after a sharp selloff last week, with investors awaiting more clues on interest rates from an ...
Source: SaltWire Network - 🏆 45. / 63 Read more »