Nvidia is set to release its highly anticipated fiscal Q1 2025 earnings report after the market close today. Analysts and traders are bracing for significant market movements, with options pricing in an 8-9% swing, translating to a potential $200 billion shift in market cap. Nvidia's earnings are expected to be driven by strong demand for AI chips, with projected revenue of $24.6 billion and earnings of $5.62 per share. The company, now the third-largest in the world by market cap, has seen its valuation rise by 200% over the past year. Wall Street, including strategists from Goldman Sachs, is particularly interested in Nvidia's guidance for the next quarter, as future chip prices are anticipated to be 40% higher. Hedge funds have reduced their stakes in Nvidia by 14% in the last quarter. CEO Jensen Huang, who owns over 86 million shares, will also be closely watched. The broader AI market and U.S. stock indexes, which have reached record highs, are expected to be influenced by Nvidia's performance.