Nvidia ($NVDA) is back in the spotlight as Wall Street analysts lift their price targets ahead of the company’s much-anticipated Q2 earnings

It has signaled it is willing to play ball with Trump's aggressive attempts to take stakes in major tech companies.

Nvidia shares fell 2.5% to $167.03 this week, marking a modest pullback as investors rotated out of AI-heavy semiconductor stocks. Despite strong long-term fundamentals, the dip follows comments from CEO Jensen Huang downplaying the near-term impact of silicon photonics—a much-hyped next-gen tech.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

After Nvidia reports its second-quarter earnings this week, investors should keep a keen eye on another important AI chip stock.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. NvidiaNVDA looms large this week after Friday's big stock market rally on Fed Chief Jerome Powell's dovish Jackson Hole speech.

Nvidia Stock Is Poised to Benefit From Rising Use of AI in Defense Systems and Global Surge in Defense Spending Global defense priorities are shifting to include greater spending on advanced technologies, such as artificial intelligence (AI). These trends should benefit Nvidia, which is the dominant provider of AI chips and related technologies.