Traders are on edge for Nvidia earnings tonight, like a man who might ‘suddenly break down in tears in a restaurant because there’s no chilli sauce on the table,’ one analyst says
Fortune
by Jim EdwardsFebruary 25, 2026
AI-Generated Deep Dive Summary
Traders are bracing for今晚's Nvidia earnings report, with heightened anxiety reminiscent of a diner breaking down over minor setbacks—a vivid metaphor used by analysts to describe the current market sentiment. The tech sector remains fragile as investors grapple with fears that AI could trigger an economic downturn, despite recent market recoveries. S&P 500 futures showed gains this morning, suggesting traders believe Monday’s 1% decline was excessive and driven more by fear than fundamentals.
The spotlight is on Nvidia, whose earnings call is expected to set the tone for global markets. Analysts predict the company will exceed expectations, given strong data from Q4 2025 and robust spending through 2026. However, concerns linger about AI’s long-term economic impact, with tech stocks like the Nasdaq Composite down year-to-date compared to broader indices. A "AI Doom" basket of large-cap stocks has dropped to levels last seen during a tariff tantrum in 2019.
The fragility of tech sentiment is further highlighted by investor behavior. As described by Hong Kong-based economist Xiao Lei, U.S. investors are hypersensitive to AI-related news, with fears easily overwhelming rationality. This anxiety is compounded by Goldman Sachs’ warning that hyperscaler capex—estimated at $667 billion in 2026—is approaching levels last seen during the dot-com bubble.
The earnings report’s outcome could determine whether markets stabilize or face further volatility. While strong results might reassure investors, any missteps could amplify concerns about AI’s economic risks and tech sector valuations. The interplay between Nvidia’s performance and broader market sentiment underscores the delicate balance in today’s financial landscape, making今晚's earnings call a pivotal moment for business watchers.
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Originally published on Fortune on 2/25/2026