Why investors are on tenterhooks for Nvidia's latest earnings report

Chip giant Nvidia is set to release its latest earnings report – and the results could move the entire US stock market. Over the past two years, the chipmaker has risen to become the world's most valuable company, with a market capitalisation of more than 4 trillion. When Nvidia announces its earnings on Wednesday, investors will get to see how the tech giant has been faring amid the tumult of President Donald Trump's trade salvoes and concerns about whether artificial intelligence has been overhyped. Nvidia specialises in making the graphics processing units (GPUs) that power AI, including the Blackwell B200, marketed as the world's most powerful chip. The California-based company's chips have become essential to the world's largest tech companies, including Microsoft, Meta, Amazon and Alphabet, since AI exploded into the mainstream with the release of OpenAI's generative AI chatbot, ChatGPT, in November 2022.