Preview: Nvidia's Q3 earnings report this week will trigger a chain reaction in global AI-related assets.
AI Summary1 min read
TL;DR
Nvidia's Q3 earnings report this week is seen as a key indicator for the AI industry, potentially impacting global AI assets amid concerns over an AI bubble. The report could ease market anxieties, as Nvidia's stock has fallen 11% from its peak despite reaching a $5 trillion market cap in October.
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According to Mars Finance, Nvidia will release its third-quarter earnings report on November 18th, after the market closes on Wednesday (Thursday morning Beijing time). The market views this as a bellwether for the AI industry and it could trigger a chain reaction in AI-related assets globally. With growing concerns about an AI bubble in the US stock market, the focus is on whether the third-quarter earnings report can dispel market anxieties and restore confidence. According to market data, Nvidia's market capitalization is currently $4.53 trillion, and its stock price is currently $188.6, down more than 11% from its high of $212.19. In October, its total market capitalization surpassed $5 trillion, making it the first company globally to reach this milestone. It is worth noting that several institutions have recently reduced their holdings in Nvidia, with SoftBank selling off its entire stake for $5.8 billion and Bridgewater reducing its holdings by 65.3%.