Nvidia results, Anthropic IPO pose tests for tumultuous AI trade
NVDA•Nvidia reports quarterly results Tuesday, while Anthropic shares are expected to begin trading Thursday in a week seen as a test for AI-investment sentiment. US retail sales, Federal Reserve minutes and results from Walmart, Target, Home Depot and Lowe's are also due.
1. AI trade faces tests
Nvidia's quarterly results and Anthropic's expected IPO debut next week could test investor confidence in the AI trade. Nvidia shares fell this week after CEO Jensen Huang stepped down on Thursday following revelations about two extramarital affairs, including one involving a suspected Chinese spy.
2. Nvidia results in focus
Analysts expect Nvidia's fiscal third-quarter earnings to grow 90% on revenue of $109 billion, according to LSEG data. Its market capitalization fell from about $5.8 trillion in early October to $3.9 trillion on Friday. Interim CEO Colette Kress will be under pressure to shore up investor confidence.
3. IPO and consumer data
Anthropic's IPO is set to value the company at up to $1.4 trillion, with the company and some investors aiming to raise up to $64.4 billion by selling 825 million shares. US retail sales are due Tuesday and Federal Reserve meeting minutes Wednesday; Walmart, Target, Home Depot and Lowe's also report results next week.
