Nvidia officials have scheduled a 5 p.m. EDT first-quarter earnings report that many expect to reflect the Trump administration's restrictions on trade with China.

“Global demand for NVIDIA’s AI infrastructure is incredibly strong,” said CEO Jensen Huang, adding that “AI inference token generation has surged tenfold in just one year.” He called NVIDIA’s new Blackwell NVL72 supercomputer a “thinking machine” and described AI as “essential infrastructure — just like electricity and the internet.”

Wall Street's main indexes fell slightly on Wednesday, after a sharp rally in the previous session sparked by easing trade tensions, as investors awaited AI bellwether Nvidia's results and minutes from the U.