The report raised fears about the sustainability of AI infrastructure growth. That could mean less demand for Nvidia’s chips. TD Cowen’s Michael Elias said his team’s finding points to “a potential oversupply position” for Microsoft. Shares of Nvidia fell 4% on Friday.

NVIDIA, widely considered the most influential stock in today’s market, faces a critical moment as it prepares to release its earnings report. The semiconductor giant’s performance significantly impacts the broader technology sector and global markets.

While the beginning of the week has felt slow, rest assured that will change starting Wednesday, after the close.