Nvidia’s strong earnings calm AI bubble fears for now

Nvidia reported stronger-than-expected earnings on Wednesday, possibly calming a jittery market. The figures came as investors appear increasingly anxious about both the demand for AI amid massive spending from tech giants, and how the tech’s widespread use could upend industries like software. Nvidia’s stock rose Wednesday in anticipation of a strong report; asset managers noted that the market’s response is unpredictable given investors’ nerves. The world’s most valuable company has seen 11 straight quarters of year-on-year revenue growth above 55%; analysts expect the streak to continue as tech giants plan to put up to $700 billion toward AI investment this year — a large chunk of which will go to Nvidia.