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Nvidia logo is seen on graphic card package in this illustration taken August 19, 2025. REUTERS/Dado Ruvic/Illustration/File PhotoBy Lewis KrauskopfA wobble in U.S. technology shares has raised the stakes for Nvidia Corp’s quarterly results on Wednesday, with earnings from the semiconductor giant posing a crucial test for the scorching AI trade. The benchmark S&P 500 has pulled back this week from record levels, dragged lower by a roughly 3% drop so far this week in the heavyweight tech sector after a huge run for the group. Fueled by its dominant artificial intelligence (AI) products, Nvidia’s massive share price gains have buoyed both the tech sector and the overall market in recent years. Last month, Nvidia became the first company to top $4 trillion in market value. Investors are now more „on edge“ heading into Nvidia’s results, said Matthew Maley, chief market strategist at Miller Tabak. „When the group goes down and the most important stock in the group reports earnings, that is going to have a bigger impact than usual“, Maley said. Nvidia’s stock has climbed about 30% so far in 2025, pushing its gain to over 1,400% since October 2022. The California-based company has epitomized the broader AI excitement that has driven up shares of a raft of tech companies and others involved in AI infrastructure such as power generation and cooling systems.
