It's the season for quarterly reports in the world of business, and one in particular coming Wednesday is the focus of much attention. That would be Nvidia, which for the last two years has been the main benefactor of the boom in artificial intelligence, reports CNBC. So much so that Nvidia is "the most important stock in the world right now," says Eric Jackson of EMJ Capital. "If they lay an egg, it would be a major problem for the whole market." TheStreet agrees with the sentiment, referring to Nvidia as a "brontosaurus" in regard to Wall Street. At this point, the company is the only one that "can either rattle or cheerlead" financial markets on its own, writes the site's Stephen Guilfoyle.
Investors will be looking for signs of whether the AI market continues to boom or is starting to wane, with the forecast for the October quarter a key indicator. Nvidia surged to briefly become the world's most valuable company in June, then fell back, and is now in the midst of a rally that has it within striking distance of its all-time high, per CNBC. Traders seem to think the upward swing will continue. Ahead of the results, they have been "piling into the company's shares and options bets ... with some wagering on a huge move in the stock after the results," writes Gunjan Banerji at the Wall Street Journal. "Get ready for Nvidia mania." (More Nvidia stories.)