Nvidia reported its fourth-quarter results after Wednesday's closing bell. Investors and analysts have focused on early sales of the company's new Blackwell line.

For the first time since 2022, Nvidia stock has fallen in the weeks leading up to the chip maker's earnings. Since the end of the last calendar quarter, Dec. 31, Nvidia stock has dropped 5.7%. That includes a 2.

Nvidia earnings have become some of the most important events of the year for Wall Street. And it’s latest results may be its most critical yet, coming after DeepSeek scrambled the outlook for AI infrastructure.