By We’re rolling into what is expected to be another wild tech earnings season, and you can bet AI is going to be front and center. And if there’s one company that everyone is watching, it’s Nvidia (NVDA).
Shares of the chip giant are up more than 16% in the last month, and the stock is currently on pace to unseat Apple as the largest publicly traded company by market capitalization.
The jump comes after Nvidia CEO Jensen Huang said demand for the company’s upcoming Blackwell chip is “insane” during an interview with CNBC on Oct. 3. Since then, shares of Nvidia have climbed roughly 18%, topping out at $130. But reports that the Biden administration will establish a cap on the number of AI chips that can be shipped to certain countries put the rally on hold Tuesday before recovering some ground Wednesday.
Nvidia’s incredible stock performance and meteoric rise in data center sales over the last year have put the company in a difficult position for its upcoming earnings announcement, which it has yet to officially schedule.
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