The News
The chip giant Nvidia will today report what are expected to be bumper earnings.
Successive quarters of huge spending on AI by US tech giants has driven speculation some may pull back on the largesse, and Nvidia’s results will offer insights into the broader sector: The firm’s stock is already up 150% so far in 2024, and traders anticipate a 9.8% increase in value — “the largest expected earnings move for any company in history,” Reuters reported. “It’s hard to remember a time when there was so much anticipation regarding one company’s earnings report,” an investment firm said.
One place where businesses are not dialing back spending is China, where big companies have doubled AI-related capital expenditure.
