Nvidia beats earnings expectations, even as bubble concerns mount

New York (CNN) — Nvidia posted strong revenue and profits that exceeded Wall Street’s expectations Wednesday. The closely watched result could prompt a sigh of relief across the stock market following growing concerns about an artificial intelligence bubble.

Nvidia has become both the backbone and an emblem of the AI boom, with much of the industry’s technology running on its chips. The world’s most valuable public company has also been central to this year’s stock market rally — it accounts for roughly 8% of the S&P 500 and its deals with other tech firms have helped fuel their stocks, too — meaning that nearly all investors and 401k holders stand to be impacted by Wednesday’s results.

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