🔥 A blockbuster week for U.S. stocks is here: Nvidia’s GTC joins forces with major U.S. companies as AI returns and earnings durability face a major test!
From Nvidia’s computing-power expansion in Europe to a packed schedule of earnings reports from tech giants, the commercialization of the AI industry chain and the spread of demand will face a comprehensive test.
1️⃣ Nvidia GTC kicks off in Berlin, with Jensen Huang focusing on “European sovereign AI”
* Time and topics: Nvidia’s GTC AI conference takes place in Berlin from October 20–22. Jensen Huang is scheduled to deliver the keynote on Wednesday (17:00–19:00 Beijing time). Key topics include European sovereign AI, enterprise AI infrastructure, Agentic AI, inference deployment, and robotics.
* Public- and private-sector cooperation: German Chancellor Merz plans to meet with Jensen Huang, with a focus on cooperation in computing power for Germany’s industrial AI.
* What the market is watching: Investors will be looking to see whether Nvidia discloses details about its next-generation chip architecture, as well as the scale of deployments in European data centers, sovereign computing power, and industrial AI projects.
2️⃣ Tech giants take the earnings baton: Meta and Tesla report
The S&P 500’s blended earnings growth for the third quarter is expected to reach 29%, driven primarily by the energy and technology sectors.
* Meta ($META): Investors will watch whether its advertising business can continue to support its massive AI capital expenditures, as well as progress in monetizing AI recommendation tools and Agentic AI.
* Tesla ($TSLA): Q3 deliveries exceeded 486,000 vehicles, and energy storage deployments reached 13.7 GWh. Key items in the report include automotive gross margins and cash flow, as well as updates on Robotaxi, FSD, and upcoming models (the live Q&A will be held Thursday at 05:30).
* SpaceX ($SPCX): The market will closely monitor Starlink and the cash flow and profitability of its space infrastructure business.
3️⃣ A comprehensive test of the semiconductor supply chain: Lam Research, Texas Instruments, and Western Digital
* Lam Research ($LRCX) (wafer fabrication equipment): A test of expansion plans among memory customers and demand for advanced process and packaging equipment.
* Texas Instruments ($TXN) (analog chips): Investors will assess the recovery in demand from traditional end markets such as industrial and automotive, along with the inventory cycle.
* Western Digital ($WDC) (storage): Investors will watch cloud providers’ purchases and demand for high-capacity hard drives to see whether data center expansion can continue translating into storage orders.
If Nvidia signals strong demand and tech giants’ capital expenditures and revenue growth form a virtuous cycle, recent market concerns about the “return on investment (ROI) of AI” should ease considerably.
$NVDA.US
From Nvidia’s computing-power expansion in Europe to a packed schedule of earnings reports from tech giants, the commercialization of the AI industry chain and the spread of demand will face a comprehensive test.
1️⃣ Nvidia GTC kicks off in Berlin, with Jensen Huang focusing on “European sovereign AI”
* Time and topics: Nvidia’s GTC AI conference takes place in Berlin from October 20–22. Jensen Huang is scheduled to deliver the keynote on Wednesday (17:00–19:00 Beijing time). Key topics include European sovereign AI, enterprise AI infrastructure, Agentic AI, inference deployment, and robotics.
* Public- and private-sector cooperation: German Chancellor Merz plans to meet with Jensen Huang, with a focus on cooperation in computing power for Germany’s industrial AI.
* What the market is watching: Investors will be looking to see whether Nvidia discloses details about its next-generation chip architecture, as well as the scale of deployments in European data centers, sovereign computing power, and industrial AI projects.
2️⃣ Tech giants take the earnings baton: Meta and Tesla report
The S&P 500’s blended earnings growth for the third quarter is expected to reach 29%, driven primarily by the energy and technology sectors.
* Meta ($META): Investors will watch whether its advertising business can continue to support its massive AI capital expenditures, as well as progress in monetizing AI recommendation tools and Agentic AI.
* Tesla ($TSLA): Q3 deliveries exceeded 486,000 vehicles, and energy storage deployments reached 13.7 GWh. Key items in the report include automotive gross margins and cash flow, as well as updates on Robotaxi, FSD, and upcoming models (the live Q&A will be held Thursday at 05:30).
* SpaceX ($SPCX): The market will closely monitor Starlink and the cash flow and profitability of its space infrastructure business.
3️⃣ A comprehensive test of the semiconductor supply chain: Lam Research, Texas Instruments, and Western Digital
* Lam Research ($LRCX) (wafer fabrication equipment): A test of expansion plans among memory customers and demand for advanced process and packaging equipment.
* Texas Instruments ($TXN) (analog chips): Investors will assess the recovery in demand from traditional end markets such as industrial and automotive, along with the inventory cycle.
* Western Digital ($WDC) (storage): Investors will watch cloud providers’ purchases and demand for high-capacity hard drives to see whether data center expansion can continue translating into storage orders.
If Nvidia signals strong demand and tech giants’ capital expenditures and revenue growth form a virtuous cycle, recent market concerns about the “return on investment (ROI) of AI” should ease considerably.
$NVDA.US