Nvidia Has Lots Riding on This Week Even as Earnings a Month Out
- Four of chipmaker’s biggest customers set to report results
- AI spending from megacap tech expected to hit record in 3Q
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Nvidia Corp. isn’t expected to announce earnings for another month, but results this week from the chipmaker’s biggest customers are about to set the tone for its shares, which are trading near an all-time high on optimism around the AI boom.
Microsoft Corp., Alphabet Inc., Amazon.com Inc. and Meta Platforms Inc. all announce earnings in the coming days. Traders will be paying close attention to their capital spending to gauge demand for Nvidia’s chips, which are prized for artificial intelligence computing. The group accounted for more than 40% of Nvidia’s sales in the second quarter, data compiled by Bloomberg show.