You can guarantee that artificial intelligence (AI) will take center stage during what is predicted to be yet another exciting tech earnings season. And Nvidia is the one business that everyone is keeping an eye on.

With a gain of almost 16% in the previous month, the chip giant's stock is now on track to overtake Apple as the biggest publicly listed firm based on market value.

The increase follows Nvidia CEO Jensen Huang's comment on October 3 in an interview with CNBC that the company's forthcoming Blackwell processor is in "insane" demand. Since then, Nvidia's stock has increased by almost 18%, reaching a peak of $130. However, the rally was put on hold on Tuesday before making some progress on Wednesday, according to claims that the Biden administration will impose a restriction on the quantity of AI chips that may be sold to specific nations.

Due to extraordinary work of Nvidia stock performance and the sharp increase in data center sales over the last year, Nvidia earnings is in a challenging situation ahead of its presentation, which it has not yet formally scheduled.

The company's sales increased by 206% to $18.1 billion in the third quarter of its fiscal year 2024, with data center revenue rising by an astounding 279% to $14.5 billion. Although Nvidia's revenue isn't going to drop, its growth will probably slow down compared to the same time last year, which may worry investors.

Not all ships have been raised by the AI trade, either. Broadcom shares have increased 59% year to year, surpassing the 21% increase in the S&P 500. The stock price of AMD increased by barely 6%, while Qualcomm saw a 19% increase. In contrast, Intel dropped a startling 55%.

To gauge how well Nvidia chips are selling, investors will be watching for indications of sustained AI expenditure from hyperscalers that account for a large chunk of AI sales, such as Microsoft, Google, Meta, and Amazon.