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nvidia

phoenix technology news, august 29, beijing time, according to the financial times, analysts said that for the us stock market, nvidia's financial report has become as important as key economic data, because the performance of this ai chip giant allows investors to assess the health of the artificial intelligence boom.

on wednesday, nvidia released its second-quarter financial report, with both revenue and adjusted earnings per share exceeding expectations, but its stock price fell 8% at one point because its revenue outlook for the third quarter was lower than the most optimistic expectations.

nvidia’s stock price has surged more than 160% this year, driven by a surge in ai spending. nvidia’s market value is now about $3.1 trillion, second only to apple. nvidia’s weighting in the s&p 500 is about 6%, accounting for more than a quarter of the index’s 18% gain this year.

deutsche bank analysts said nvidia's earnings report has become "one of the most important events on the macroeconomic calendar," and its recent performance has triggered a market reaction comparable to "an unexpected u.s. jobs report or consumer price index release." the bank pointed out that the day after nvidia's february earnings report, the s&p 500 rose 2.1%, the index's second-best single-day performance this year. on tuesday, the s&p 500 closed slightly higher, close to its all-time high.

one asset manager said he could not recall a company whose earnings report had been so "highly anticipated". "it's hard to imagine that there won't be a strong reaction in the share price tonight (wednesday)," he said.

"we think this is the most important earnings report for the stock market this year and in recent years," said dan ives, a technology analyst at wedbush securities.

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