Nvidia's Earnings Set to Shake Global Markets
Nvidia's impending earnings report is garnering significant attention in European and global markets. With its market value soaring from $390 billion to nearly $3.2 trillion over two years, the chipmaker's financial results have the potential to impact the entire market. Investors are cautiously awaiting these results amidst broader economic considerations.
![Nvidia's Earnings Set to Shake Global Markets](https://devdiscourse.blob.core.windows.net/aiimagegallery/27_08_2024_10_07_38_8309689.png)
Nvidia is capturing the investment world's attention ahead of its earnings report, which could deliver a substantial second-quarter revenue increase. However, it's uncertain whether this will meet the high expectations of investors used to market-moving outperformance.
On the eve of the AI chatbot ChatGPT launch, Nvidia's market value was $390 billion. Today, it stands at nearly $3.2 trillion, briefly making it the world's most valuable company due to its role in AI computing.
Nvidia's earnings, due after the U.S. market closes on Wednesday, hold the potential to significantly move the market. With low trading activity and modest moves in Asian markets, European equity futures remain flat. The company's earnings results could drive a near 10% swing in Nvidia's shares on Thursday, affecting more than $300 billion in market value, possibly the largest market move on an earnings report to date. Elsewhere, sterling approaches a 2-1/2 year high amid a declining dollar and anticipated interest rate cuts.
(With inputs from agencies.)
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