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.

U.S. stocks ticked up in premarket trading on Monday and looked poised to rebound from last week’s decline. Investors are now turning their attention to Nvidia’s upcoming earnings — the first time the AI chipmaker is reporting results since a breakthrough by Chinese AI startup DeepSeek sparked a selloff in Nvidia and other tech stocks last month.

Nvidia (NASDAQ: NVDA) stock splits have become a clear sign of the stock's strength in the world of artificial intelligence (AI). Its transformational power over the chip industry allowed it to replace the former industry leader Intel as one of the 30 stocks making up the Dow Jones Industrial Average (DJINDICES: ^DJI) in November 2024.