Nvidia to Release Earnings. Will Demand for Graphics Chips Soar?

Chipmaker Nvidia is set to report earnings after the bell on Wednesday, with investors hoping for insights into demand for its graphics chips in gaming and artificial intelligence. Nvidia shares hit an all-time high early on Tuesday in anticipation of its results but ended the day down 2.8% as traders booked some profits ahead of the release. The report comes at a critical time as the once high-flying chip sector has been hammered by worries about a global economic slowdown hitting demand. Broader stock markets gained on Tuesday as well on hopes Nvidia can deliver upbeat news to support risk appetite amid recession fears. The S&P 500 and Nasdaq both closed slightly higher.