Nvidia to report earnings as some warn of 'bubble'

An earnings report to be released by chip giant Nvidia on Wednesday will offer a window into the health of the artificial intelligence (AI) industry, which in recent years has become a key engine for stock market gains and economic growth. Nvidia, the $4 trillion company behind many of the chips fueling AI products, has expanded at a breakneck pace since an AI boom set off by the release of OpenAI’s ChatGPT in 2022. The California-based company saw its stock price soar nearly 700% over the ensuing two years. Analysts expect Nvidia to record $46.2 billion in revenue over three months ending in June, which would amount to a 53% jump compared to a year earlier. That would mark robust growth but it would come in well below a 122% spike in revenue enjoyed in the same quarter a year ago. Alongsi