The one-day drop in Nvidia shares on Jan. 27 after the DeepSeek's revelation called into question all the spending Wall Street had assumed would go into not only Nvidia’s chips but also the ecosystem that’s built around the AI boom.
Wall Street is once again fixated on Nvidia, as the main player in the artificial intelligence mania is set to report earnings after the bell Wednesday and give an update on demand for its semiconductors, which are used to power AI applications.
That's approximately how much of the S&P 500's gain for last year could be attributed to Nvidia alone, according to S&P Dow Jones Indices.
This will be Nvidia's first earnings report since a Chinese upstart, DeepSeek, upended the artificial-intelligence industry by saying it has developed a large language model that can compete with big U.S. rivals without having to use the most expensive chips.
Nvidia’s total market value as of the close Tuesday, second in the S&P 500 behind Apple ($3.711 trillion).
