Welcome to Seeking Office Wall Street Lunch.

Our afternoon update on today's market action news and analysis.

Good afternoon. Today is Tuesday, August 22nd, and I'm your host, Kim Kahn. Our top story so far.

Invidia hit a 52-week high of nearly $422 today as the momentum into earnings continued. So far buying in anticipation of

quarterly results has driven the stock, sector, and broader market higher. The

Godfather of AI, as the stock was named by analyst Dan Ives, is up more than 15% since its recent

low on August 11th. The stock has fallen back from highs as we record. The chipmaker

has become so dominant as an AI proxy that JP Morgan recently listed two metrics in a note,

growth of revenue in AI-related companies and growth of revenue X-invidia.

With earnings coming after the bell tomorrow, will the Bulls snapping up shares and the

analysts boosting price targets look prescient, or are we in for a big sell the news reaction?

Seeking Alpha Analysts made two opposing arguments on

NVIDIA in the last 24 hours.

Analysts Chris Rob is expecting another strong quarter for the company. He says,

while revenue and earnings beats were significant last quarter, what gained the attention of investors, was the incredible differential between what the company guided and what Wall Street expected, $7 billion versus $11 billion.

The momentum of demand and the rapidly increasing interest in AI suggests that demand is just

starting its acceleration, opening the door for further potential strength and future earnings

blowouts.

Business Quant says the party may be over.

They say enterprise demand for GPUs seems to be waning as channel partners flash

guidance and it's likely the market sees the full-fledged effect of the slowdown within the next two quarters.

In addition, AMD and other major tech enterprises have stepped up their game.

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