Wall Street was recouping some of the previous day’s losses early Wednesday, with an eagerly anticipated quarterly earnings report from Nvidia coming after the bell, according to the Associated Press. Futures for the S&P 500 were up 0.5%, while futures for the Dow Jones Industrial Average gained 0.3%. Futures for the technology-heavy Nasdaq, where Nvidia trades, jumped 0.7% before the bell after sliding 1.4% on Tuesday.
Nvidia, a bellwether for AI chipmakers, will release its first earnings report since a Chinese upstart, DeepSeek, upended the artificial intelligence industry by saying it has developed a large language model that can compete with big U.S. rivals without having to use the most expensive chips.
That’s called into question all the spending Wall Street had assumed would go into not only Nvidia’s chips, but also the ecosystem that’s built around the AI boom, including electricity to power large data centers.
Nvidia shares rose 2.1% in premarket trading, getting back a chunk of the 2.8% it lost Tuesday.
Shares of another company riding the artificial intelligence wave, Super Micro Computer, soared 22% before markets opened as it finally got up to date with its regulatory filings. The California company, whose stock had taken a beating after its accounting firm quit last year, on Tuesday announced that it had filed its financial reports for fiscal 2024 and the first and second quarter of 2025.
