New York, Feb 24, 2026, 4:01 PM ET — Trading after the bell.
- Nvidia finished the session roughly 0.7% higher, with traders making moves ahead of Wednesday’s earnings report.
- AMD’s $60 billion chip agreement with Meta sent a jolt through the AI hardware landscape, intensifying scrutiny of the race between rivals.
- Nvidia’s outlook is in focus as investors weigh supply bottlenecks and the company’s exposure to China sales risks.
NVIDIA Corp (NVDA.O) ended Tuesday up roughly 0.7% at $192.96, clawing back after dropping earlier in the session with investors watching for the chipmaker’s earnings. Shares swung from $187.40 to $193.75, trading close to 88.9 million units.
Jitters linger across markets, with Nvidia’s upcoming earnings now central as traders look for signs the AI-driven rally can keep up momentum. The chipmaker drops its results after Wednesday’s closing bell.
Nvidia heads into its results with investors focused on whether Big Tech is still driving chip demand, even as some customers look to cut costs with in-house silicon or alternative suppliers. “This earnings in particular is important because people are so concerned about AI spending – whether we’re in a bubble,” said Ivana Delevska, chief investment officer at Spear Invest. Wall Street is looking for profit in the quarter ended January to jump more than 62%, with revenue up 68% to $66.16 billion, based on LSEG data. Reuters
Competitive heat ramped up Tuesday as Advanced Micro Devices landed a five-year deal to supply up to $60 billion worth of AI chips to Meta Platforms—an agreement that also hands Meta the right to snap up as much as 10% of AMD. “Meta is locking in supply, diversifying away from a single vendor,” Hargreaves Lansdown’s Matt Britzman said. AMD chief Lisa Su called the move a “big bet” on AMD. The company’s MI450 chips, aimed at “inference”—where trained AI models generate answers in real time—are set to challenge Nvidia’s upcoming Vera Rubin processor. Reuters
Nvidia slipped 0.7% to $190.19 in early action after news broke of the AMD-Meta deal, according to Barron’s, but the stock later clawed its way back into the green. Traders, bracing for earnings to hit within hours, have been jumping on moves that seem driven by shifting positions rather than any new data.
Guidance is front and center here. Investors are pressing for Nvidia’s read on incoming orders—how quickly units can leave the factory, and if demand is tilting away from training toward inference-heavy jobs, which could shake up chip preferences and pricing.
China still looms large over sentiment and the broader outlook. “China has not yet received any units of Nvidia’s H200 AI chips,” said David Peters, assistant secretary for export enforcement at the U.S. Commerce Department, following conditional sales approval. Reuters
Nvidia faces pressure on Wednesday—if management strikes a cautious note, the stock could take another hit. Investors now see AI spending as something that can be pushed back, not guaranteed quarter to quarter. The company needs to convince the market its backlog is solid and this cycle hasn’t peaked yet.
Nvidia’s fiscal fourth-quarter numbers are due out after the U.S. market close on Wednesday, Feb. 25. Numbers usually land somewhere between 4:20 and 4:30 p.m. Eastern, with a conference call lined up for 5 p.m., according to Kiplinger.
Everything rides on the release and the call in the session ahead and through the week: does Nvidia’s outlook match the bar, and what signals does it send on supply, pricing, and demand from customers as rivals close in?
