Nvidia (NVDA) Earnings Due Tuesday With $108.99 Billion Revenue Expected

Nvidia's $108.99 Billion Earnings Test

Nvidia (NVDA) reports quarterly results after Tuesday's close, with consensus expecting $2.49 in earnings per share on $108.99 billion in revenue, per estimates compiled by Zacks. The print covers the final full quarter that Jensen Huang ran the company. Huang resigned as chief executive on November 12, and finance chief Colette Kress has led the company on an interim basis since. His exit deepened the slide in the stock: shares fell more than 10% the day his resignation became public and were down 12.68% for the year at the last close. Expectations remain demanding regardless. The $108.99 billion consensus sits above the $108 billion midpoint of the revenue range Nvidia set out in its August outlook, and analysts nudged the per-share figure up by a cent over the past 60 days. A result that merely matches guidance could therefore read as a disappointment rather than a relief. History gives the interim structure an uncomfortable precedent as well: after Intel handed the role to its finance chief in 2018, the stock lost 11.7% that year. What traders will watch on Tuesday is less the quarter Huang ran than the outlook Kress delivers with it. A beat paired with a steady guidance framework would address the leadership question directly, because it would show the strategic direction does not depend on who holds the title. A miss, or a vague forecast, would leave the discount the resignation opened fully in place.

Fed Minutes and the Priced-In Hike

The Federal Reserve publishes the minutes of its October 27 to 28 meeting on Wednesday at 2 p.m. ET, a day after Nvidia's report. Minutes record the discussion behind the rate decision itself, and policymakers held rates steady at that session. October inflation data released since then has run hot enough to turn a December hike from possibility into near certainty: CME FedWatch pricing now puts the probability of a December increase at 100%, with an 11.5% chance the Federal Reserve moves by 50 basis points rather than 25. With the hike itself already priced in, the open question is how far the tightening cycle runs beyond December. The minutes may show whether policymakers see room for further increases next year, and a hawkish tone would land on equities at precisely the moment AI names are trying to stabilize. Higher rates press hardest on assets valued on future growth, a category that covers AI stocks and digital assets alike. That channel is already visible: the correction in AI shares spread into cryptocurrency in early November, a linkage described in the relationship between cryptocurrency and stocks as investments. A softer read of the discussion, by contrast, would strip one layer of pressure from a tape that already carries plenty. The Fed's next rate decision is scheduled for December 9, which makes Wednesday's document the last substantive guidance traders receive before that meeting.

The market has begun pricing the week ahead of schedule. COINOTAG data puts NVDA at $165.30, up 3.6% over the past 24 hours even with the US equity session closed. The stock perpetual market and its open interest add a derivatives lens to the setup, and the rebound is still working against an established slide. Tuesday's print decides whether the rebound extends or the November slide reasserts itself.

Anthropic's $64.4 Billion IPO

Anthropic (ANTHROPIC) expects to price its initial public offering later on Wednesday, after the Fed minutes are released. Its registration statement lays out the terms: 825 million Class A shares offered at $70 to $78, a raise worth up to about $64.4 billion. Trading under the ticker ANT should begin Thursday on Nasdaq, subject to regulatory clearance. At the top of the range the fully diluted valuation reaches roughly $1.4 trillion, below the approximately $2 trillion the company had been working toward. The deal loops back to Nvidia. Seven firms, Nvidia among them, agreed to buy $26 billion of non-voting stock in a private placement running alongside the offering, and the filing's disclosed allocations include $10 billion each from Google and Nvidia. CNBC's Jim Cramer has argued that any real recovery in AI stocks hinges on this debut, which makes the first session under ANT a sentiment event for the whole sector rather than a single company's listing. Traders have connected the offering to digital-asset weakness as well: investors raising cash for IPO allocations sold other holdings in recent weeks, and the AI selloff dragged cryptocurrency lower in early November. A clean pricing followed by a firm first session would remove one of the week's three uncertainties and reinforce the Nvidia result in turn. A stumble would deepen the correction, and a hawkish tone in the minutes could cap any relief rally either way.