It's common to go to a bar to watch a hotly anticipated football match – after all, it's a chance to soak up the excitement with other sports fans.
Interest in Nvidia's quarterly earnings, due to be released on Wednesday, has reached a fever pitch, with private viewing parties being held in New York bars.
The idea began when Lauren Balik, owner of Upright Analytics and co-host of the Tech Bros Show, approached X about renting bar space to hold earnings calls and subsequent financial commentary.
A few hours later, Balik officially announced the event, which would take place at 3:30 p.m. at the Storehouse bar in Flatiron.
It's on. $NVDA The NYC Watch Party will take place at the Storehouse on August 28th from 3:30pm.
They will play earnings conference calls over loudspeakers and allow CNBC and other financial news channels to continue airing on some televisions.
I'm excited. Either way it's going to be interesting.
Send a message to lauren… https://t.co/kUIw5qKjFg pic.twitter.com/FnuJPxt8As
— Lauren Balik (@laurenbalik) August 27, 2024
Balik said in his post that 12 people have confirmed their attendance so far.
She also included a silly flyer advertising the event, advertising “Party Beer,” “Jensen Huang,” and “Scheduled Earnings Speakers.” (Needless to say, Nvidia CEO Jensen Huang will not be attending, as he will be joining the earnings conference call by phone to answer analysts' questions.)
Balik did not immediately respond to a request for further comment on the case.
The watchdog party comes as Wall Street and AI watchers across the industry are closely monitoring Nvidia's earnings for signs that AI investment is starting to peak or is still going strong.
Amid the AI arms race, Nvidia's stock price has soared and its AI chips remain best-in-class and hard to come by, even as rival chipmakers try to catch up with their own products. Meanwhile, there are concerns that it may take too long for tech companies to see a return on their huge AI-related capital investments. Some tech giants, including Google, have said they're unlikely to see a big payback on AI anytime soon.
With Wall Street and others focused on whether Nvidia can prove the AI boom isn't slowing down anytime soon, the company's earnings are bound to be its most significant in years. Analysts have projected that the chipmaker's shares could fluctuate by nearly $300 billion in market capitalization in either direction depending on the results of the earnings report.
Of course, you can also watch Nvidia's earnings conference call from the comfort of your office chair or remote work environment.
But it seems at least a dozen people are planning to brave the summer heat, take the subway across the city, and consider the results together over cold drinks in a bar.
Don't be surprised if an informal viewing party happens in San Francisco, too.
