Ahead of the third quarter results later in the day, Nvidia shares were trading over 1 percent higher at $183.3 apiece on the Nasdaq in pre-market trade at about 5:30 pm IST on Wednesday, even as global markets extended losses for a fifth straight session amid renewed concerns over stretched AI valuations.

Investor sentiment remained cautious ahead of what is widely viewed as a crucial earnings announcement from the US-based chipmaker. Nvidia is scheduled to report its quarterly numbers after the US market closes.

The company is expected to post a 56 percent rise in fiscal third-quarter revenue to USD 54.92 billion, according to estimates compiled by LSEG.

"It looks like Nvidia’s stock price has been priced for perfection, so GPU demand must continue to grow strongly for many more years

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