Analysts have noted that Nvidia’s results are not just about Jensen Huang's firm

Nvidia’s third quarter results, set to be announced after US market closes on Wednesday, will be a litmus test for the AI boom that has propelled global equities to record highs.

The chip titan, which now accounts for roughly seven per cent of the S&P 500 by market cap, has seen its shares surge more than 1,200 per cent over the past five years.

But after a 10 per cent drop since early November, investors are beginning to question whether the AI boom can sustain its blistering pace.

US tech stocks are stabilising after a multi-day sell off driven by concerns over lofty AI valuations and the sustainability of cosmic spending.

The S&P 500 rose 0.1 per cent and the Nasdaq 0.2 per cent in early trading, but

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