Markets hold breath over earnings at AI giant Nvidia

NERVOUS stock markets around the world were on a knife edge today ahead of earnings from the tech superstar stock Nvidia that commentators said could send markets either soaring or into a fresh tail-spin.

- Jonathan Prynn

City analysts said the reaction to the figures from the $3 trillion (£2.3 trillion) company being released in the US after trading hours tonight would have huge implications for investors.

The second quarter earnings release is being described as the "most important event in world equities" and just as important for the direction of markets as the Jackson Hole summit utterances of Fed chair Jerome Powell last week or key US data such as the jobs report.

Nvidia shares have risen more than 150% this year on the back of the AI boom. Any disappointment in the earnings announcement could trigger a new wave of market volatility similar to the spasm that briefly rocked the world's major indices earlier this month.