Options traders price in Nvidia's quarterly results as a more pivotal event for the broader market than the upcoming interest rate decision or the monthly inflation and jobs reports.

Nvidia CEO Jensen Huang arrives at the launch of the supercomputer Gefion, at the Vilhelm Lauritzen Terminal in Kastrup, Denmark, Oct. 23, 2024. Nvidia reports fiscal third-quarter earnings Wednesday after the market closes.

Nvidia ( NVDA) , which holds a commanding 90% share of the market for so-called artificial-intelligence accelerators – the chips and processors that power the massive data systems of hyperscalers such as Microsoft ( MSFT) and Amazon ( AMZN) – has added more than $2.

Nvidia has become the world’s most valuable company on the back of AI chips, passing Microsoft and Apple along the way, and in today’s Q3 2025 earnings, the company suggested its record AI revenue and profits are only the beginning.

Jensen Huang's company retains its absolute dominance in artificial intelligence microchips, but longer term demand is eventually expected to prioritize inference over training.