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.

Whether it's poaching top talent away from competitors, acquiring AI startups or proclaiming that it will build data centers the size of Manhattan, Meta has been on a spending spree to boost its artificial intelligence capabilities for months now. The massive splurge is paying off, according to Meta's chief executive. In a new memo posted on Wednesday ahead of the company's quarterly earnings report, Mark Zuckerberg, describes his ambitions for developing what he calls "superintelligence". "Over the last few months we have begun to see glimpses of our AI systems improving themselves," Zuckerberg wrote. "The improvement is slow for now, but undeniable. Developing superintelligence is now in sight."

Tesla has reported another hefty drop in auto sales extending a difficult period amid intensifying electric vehicle competition and backlash over CEO Elon Musk's political activities. On Wednesday, the electric vehicle (EV) maker reported 384,122 deliveries in the second quarter, representing a 13.5 percent decline from this time a year ago. Its earnings report will be released after the market close. Sales were roughly in line with analyst expectations. The global sales figures reflect the more contested nature of the EV market, which Tesla once dominated, but which now also features BYD and other low-cost Chinese companies, as well as legacy Western carmakers like General Motors, Toyota and Volkswagen.

Nvidia beat Wall Street expectations in its quarterly earnings report on Wednesday, marking another in a string of financial wins for the computer hardware giant. It reported 44.1bn in revenue in the quarter ending in April, up 69% from the previous year. The company exceeded investors' predictions of 43.3bn in revenue. Adjusted earnings per share came in at 0.81, under investor expectations of an adjusted earnings per share of 88 cents. The company also reported 39.1bn in data center revenue, up 73% from the year prior.

AMD is targeting both low-end and high-end AI PCs at CES 2025. The company unveiled a new family of Ryzen AI Max chips meant for "halo" Copilot AI PCs, which will sit above existing Ryzen AI 9 systems. Clearly, AMD wants AI PC options for everyone. To its credit, AMD's Ryzen AI Max chips seem like powerhouses. They feature up to 16 Zen 5 performance cores, 40 RDNA 3.5 GPU compute units and 50 TOPS of AI performance with AMD"s XDNA 2 NPU.

Tesla shares saw an 8% jump after reporting its third quarter earnings on Wednesday. The electric car manufacturer was able to bounce back from a tough second quarter, beating Wall Street expectations for earnings per share. The company reported an earnings-per-share of 0.72, surpassing investors' projection of 0.60. At the end of the second quarter, Tesla's chief executive, Elon Musk, said the nearly 50% drop in profits was temporary and due to difficulty competing with cheaper or price-slashed electric vehicles by rival companies such as BYD. "We don't see this as a long-term issue," Musk said in July, "but really fairly short term."

Profits at Microsoft beat Wall Street's expectations as its heavy bet on artificial intelligence continued to bear fruit in the second quarter. The technology giant has invested billions of dollars into AI in a bid to turbocharge its growth, particularly of its cloud computing services. Its cloud computing revenue surged by more than 20% in the latest quarter. Microsoft's AI tools "are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry," said Satya Nadella, the chief executive of Microsoft. As the group races to integrate AI across its software and services, Nadella said its Azure cloud computing business saw the pace of deals worth 100m and 10m increase by double-digit percentages.

Samsung has been reporting steep profit declines and record-breaking losses over the past quarters, and while it has yet to go back to its previous numbers, it sounds optimistic for the future in its latest earnings report. The company credited the strong sales of its mobile flagship devices and its premium displays for doing better the past three months than the previous quarters. Samsung also said that its Device Solutions (DS) division, which includes its memory and foundry businesses, has narrowed its losses. It even expects demand for memory chips to recover gradually with the rise in popularity of artificial intelligence. The company has posted a consolidated revenue of KRW 67.40 trillion ($49.9 billion) for the third quarter of 2023, which shows a respectable 12 percent increase from the previous quarter's.

Ouster and Velodyne, two lidar companies, have agreed to a merger in an all-stock transaction, the companies said Monday. Both Ouster and Velodyne will maintain a 50% stake in the new company, according to the agreement that was signed on November 4. The merger comes as many in the industry, including autonomous vehicle technology company Cruise's CEO Kyle Vogt, have been expecting another round of consolidation in the lidar space. That's in part because there are too many lidar companies for how many OEMs are implementing the sensor for autonomous driving applications. It's also because many of these companies, including Ouster and Velodyne, went public via special purpose acquisition (SPAC) at potentially inflated valuations that were based on projected revenue, not actual revenue. Earlier this year, Velodyne acquired AI and lidar company Bluecity.ai,

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