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Nvidia (NVDA) has proved a clear first-quarter earnings season winner, although it is yet to report its own results, due to revived optimism from analysts and steadfast capital spending by top-tier tech companies. Melius Research counted Nvidia a “winner” due to recent performance across hyperscalers such as Microsoft (MSFT) and Alphabet (GOOGL). Both companies shared ongoing commitments to steep AI-driven capital expenditures.
That’s particularly significant as Nvidia grapples with headwinds such as tariffs and new chip export restrictions. However, Wall Street’s attention has swung instead to the potential for upside from solidly sustained demand for Nvidia’s Blackwell chips and good visibility for hyperscaler orders through the end of the year.
