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Nvidia is world’s ‘most important stock,’ adds pressure to Q2 earnings [Video]

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AI Content Generation and Curation

Nvidia CEO Jensen Huang makes a speech at an event at COMPUTEX forum in Taipei, Taiwan June 4, 2024. 

Ann Wang | Reuters

For Nvidia investors, the past two years have been a joyride. But recently they’ve been on more of a roller coaster.

As the primary beneficiary of the artificial intelligence boom, Nvidia has seen its market cap expand by about ninefold since the end of 2022. But after reaching a record in June and briefly becoming the world’s most valuable public company, Nvidia proceeded to lose almost 30% of its value over the next seven weeks, shedding roughly $800 billion in market cap.

Now, it’s in the midst of a rally that’s pushed the stock within about 7% of its all-time high.

With the chipmaker set to report quarterly results Wednesday, the stock’s volatility is top of mind for Wall Street. Any indication that AI demand is waning or that a leading cloud …

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