Chipmaker Nvidia is set to share its fiscal second-quarter earnings next week in what is shaping up to be a highly-anticipated affair. With Nvidia being at the forefront of the artificial intelligence boom, investors and analysts believe the company’s success or failure will have a significant effect on both the tech industry and the stock market.
In a recent note sent to clients, Wedbush Securities analyst Dan Ives even went as far as saying that Nvidia’s upcoming Q2 report is the “most important tech earnings in years.”
“There is one company in the world that is the foundation for the AI Revolution,” Ives wrote in the note. “And that is Nvidia with the Godfather of AI Jensen (Nvidia’s CEO Jensen Huang) having the best perch and vantage point to discuss overall enterprise AI demand and the appetite for Nvidia’s AI chips looking forward.”
Every element of Nvidia’s earnings is expected to be nitpicked, with investors looking for clues about the sustainability of the robust demand for AI chips and the growth of the company’s data center segment. Additionally, an update on the company’s new Blackwell chip, which was reportedly delayed, might also be part of the mix.
After losing 27% of its value from mid-June to early August, Nvidia’s stock has bounced back in recent weeks. The stock rose by more than 4% on Friday to close at $129.37 per share and 168.57% up year-to-date.