Artificial intelligence bellwether Nvidia is poised to release a quarterly report that’s expected provide a better sense about whether the stock market has been riding on an overhyped bubble or whether it’s being propelled by a technological boom that’.
Artificial intelligence bellwether Nvidia is poised to release a quarterly report that’s expected provide a better sense about whether the stock market has been riding on an overhyped bubble or whether it’s being propelled by a technological boom that’s still gathering momentum.
The financial results due out Wednesday afternoon have become a key AI barometer during the past two years because Nvidia makes most of the chips that power the technology in vast data centers scattered throughout the boom. Nvidia become the first publicly traded company to surpass a market value of $4 trillion last month, and its stock price has gained another 13% since then to create an additional $500 billion in shareholder wealth.
This summer’s run-up has continued Nvidia’s jaw-dropping rise from early 2023, when the company’s market value was hovering around $400 billion, shortly after OpenAI’s late 2022 release of its ChatGPT chatbot triggered the biggest craze in technology since Apple released the first iPhone in 2007.
While the technology industry has been the biggest beneficiary of the AI frenzy, it’s also been a boon for the overall stock market.
