Long a Wall Street favorite, Nvidia has not outperformed the broader market recently, falling 3% over the last six months, worse than the S&P 500’s 7% return.

Nvidia stock was slumping Tuesday following a report about harsher curbs on chip sales to China ahead of a make-or-break quarterly earnings report. Shares of the semiconductor maker has fallen 2.4% to $127.

Wall Street is holding its breath as Nvidia (NVDA) gears up to report its fourth quarter results on Wednesday. Despite its sky-high valuation, Patrick Moorhead, Chief Analyst at Moor Insights, believes the AI giant still has "a lot of room to grow.

Chinese companies are ramping up orders for Nvidia's H20 artificial intelligence chip due to booming demand for DeepSeek's low-cost AI models, six people familiar with the matter said. The surge in orders,

Tencent, Alibaba and ByteDance are said to have significantly increased orders of the H20 since DeepSeek gained global attention.

Even as Chinese chipmakers like Huawei continue to develop their own AI processors, NVIDIA’s H20 remains the industry standard. Analysts estimate that over 1 million H20 chips were shipped in 2024, ge