
Is Nvidia too big to fail?
CNN
How big is too big? That’s the question on a lot of investors’ minds Wednesday as they wait for Nvidia to report its earnings for the fourth quarter after the market closes.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. How big is too big? That’s the question on a lot of investors’ minds Wednesday as they wait for Nvidia to report its earnings for the fourth quarter of 2023 after the market closes. The California-based chipmaker has quickly become the third largest company on Wall Street, behind Microsoft and Apple, largely because of its critical role in the artificial intelligence boom — Nvidia makes up nearly all of the AI chipmaking market in the United States. But with a market cap of $1.7 trillion and a year-to-date return of about 40% (the best in the S&P 500), the company has a lot to live up to. Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before.

Cara Petersen, the Consumer Financial Protection Bureau’s acting enforcement director, resigned from the agency on Tuesday. In an email to colleagues announcing her decision, Petersen slammed the Trump administration’s efforts to dismantle the agency, which was established as a banking watchdog following the 2008 global financial crisis.