AI Mania Powered Stocks This Year. Can Nvidia Spark More Gains?

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The chip maker’s earnings beat Wall Street expectations in 19 of the last 20 quarters

There is a lot riding on the earnings report this week from Nvidia, both for the company’s ebullient investors and the entire stock market.

Nvidia has been the big winner of the bet that artificial intelligence is the next big thing in tech, the so-called AI trade that surged in popularity after OpenAI’s release of its ChatGPT app. The chip maker’s shares have more than tripled this year, contributing to a sizable portion of the S&P 500’s 18% rise.

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