Investors are bracing for heightened volatility ahead of Nvidia’s earnings report on Wednesday—a potential catalyst that could unsettle a market enjoying an extended period of relative stability. All eyes will be on the demand for Nvidia’s expensive AI chips, as scepticism grows over whether the industry’s heavy spending is justified amid emerging low-cost alternatives from China’s DeepSeek. Once a key beneficiary of an AI-fuelled spending surge by major tech companies over the past two years, Nvidia now faces mounting questions about the necessity of its premium hardware in the evolving AI landscape. DeepSeek’s rapid rise in January contributed to a staggering $593 billion loss in Nvidia’s market value on a single day—the largest one-day decline for any US company—even as its shares had been among the best performers in 2023 and 2024.Data
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