Wall Street shares have seen big swings this week as investors brace for all-important earnings from AI bellwether

The latest test for the world's most valuable company arrives at a fraught moment for markets, which have fallen for four consecutive days over fears of an AI bubble. Nvidia, which makes many of the chips fueling AI products, has suffered a decline of more than 10% over the past two weeks.

The daily timeframe chart shows that the NVIDIA stock price has been in a strong uptrend in the past few years. It recently crossed the important resistance level at $200, bringing its market capitalization to over $5 trillion.

A leveraged “whale” has just placed a high-conviction bet on Nvidia (NVDA) ahead of the chipmaker’s next earnings report. The trader has opened a 10x long worth about $1.66 million on onchain derivatives platform Hyperliquid.

Not as expensive as it used to be, based on one widely watched valuation measure—the price-earnings ratio. While Nvidia's stock price has soared, its earnings power has risen even quicker, pushing down the PE ratio.

Nvidia is likely to report a more than 56% jump in its fiscal August-October quarter revenue to $54.92 billion, according to data compiled by LSEG, stated a Reuters report.

A start-up artificial intelligence company is making headlines today after announcing deals with two of the world's largest tech companies. Anthropic is securing $5 billion from Microsoft ( MSFT 3.11%), while leading chipmaker Nvidia ( NVDA 1.77%) is investing $10 billion in the latest deals to fuel AI's rapid expansion.

Nvidia shares have fallen more than 12% since their recent peak on Oct. 29—the day it became the world's first $5 trillion company. It's the 16th time shares have "corrected," dropping 10% or more from a recent high,