Nvidia’s earnings have grown into a market-wide event, with other stocks tending to move alongside the chipmaker’s results, according to CNBC.

The Nasdaq rose in the final hour of trading as investors awaited both the Nvidia report and inflation data, according to MarketWatch.

CNBC reported that Nvidia has beaten estimates on every top-line metric over the past year, yet investors have sold the stock the next trading day regardless, a pattern analysts are calling an “expectations premium.” Analysts are watching how the company addresses that dynamic in its latest results, according to CNBC.

CNBC’s Jim Cramer said Nvidia has become “all-important” to the AI trade, describing its earnings as effectively a referendum on the broader artificial intelligence ecosystem, and said investors should look beyond the headline numbers.

Separately, MarketWatch examined whether AI has improved at picking stocks, a question that comes as Nvidia’s earnings are watched as a bellwether for AI-linked equities broadly.

Sources: CNBC, MarketWatch

This article is for information only and is not financial advice.