Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

Wall Street is poised to open with more losses Tuesday as artificial-intelligence -related shares continued to drag markets lower. Futures for the S&P 500 fell 0.6%, while futures for the Dow Jones Industrial Average lost 0.

Wall Street will get a sense of where the billions of dollars being spent on artificial intelligence are going when Nvidia Corp. reports its earnings after the bell on Wednesday. How the sinking

In the deal announced Tuesday, Nvidia and Microsoft will invest up to $10 billion and as much as $5 billion, respectively, in AI developer Anthropic ( ANTH.PVT ). Anthropic will buy $30 billion of compute capacity from Microsoft Azure, and Anthropic and Nvidia will collaborate on design and engineering, the companies said.

The U.S. stock market is slumping as superstars swept up in the mania around artificial-intelligence technology keep weakening. The S&P 500 fell 1.5% Thursday.

That hints at substantial gains in 2026 and investors can lean into that possibility by buying shares of Meta Platforms ( META 0.07%) and Alphabet ( GOOGL 0.78%) ( GOOG 0.77%). Wall Street is generally bullish on both stocks:

Daniel Newman of The Futurum Group forecasts Nvidia’s earnings, calling the AI surge a 'technological supercycle.' He warns a rare miss could shake investor confidence and ripple through the entire market.

Nvidia has grown to become the largest stock on Wall Street and briefly topped $5 trillion in value. That means its stock movements carry more weight on the S&P 500 than any other stock, and it can single-handedly steer the index’s direction some days.