Key supply-chain players updated their AI-demand outlooks ahead of Nvidia's fiscal-third-quarter earnings next week.

Nvidia (NASDAQ:NVDA) was in focus on Thursday as several Wall Street firms upped their price targets on the semiconductor giant ahead of its fiscal third-quarter results, set to be released on November 20 after the close of trading.

Nvidia (NASDAQ: NVDA) has been the flag bearer for the artificial intelligence (AI) investing revolution since shortly after OpenAI's ChatGPT launched in November 2022. However, attention on the stock has waned in recent weeks as investors focused more on the presidential election results.

The U.S. Supreme Court scrutinized on Wednesday Nvidia's bid to torpedo a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales depended on the volatile cryptocurrency market.

US Supreme Court justices signaled they are headed toward a narrow ruling on shareholder lawsuits as they weighed an effort to sue Nvidia Corp. for allegedly misleading investors over its dependence on crypto-mining revenue.

The chipmaker is trying to grow by cutting jobs.

The move follows other cutbacks among longtime Silicon Valley companies. Cisco Systems Inc. is eliminating more than 6,000 positions, and Intel is cutting about 15% of its workforce of more than

Advanced Micro Devices (AMD) is laying off 4% of its global workforce, around 1,000 employees, as it pivots resources to developing AI-focused chips. This marks a strategic shift by AMD to challenge Nvidia’s lead in the sector.

SoftBank Group Corp. will be the first to build a supercomputer with chips using Nvidia Corp.’s new Blackwell design, a demonstration of the Japanese company’s ambitions to catch up on AI.

SoftBank's Japanese telecoms unit will receive the first chips using Nvidia's latest Blackwell design for its supercomputer, the California-based chip designer said, as Masayoshi Son looks to ride the artificial intelligence boom.

SoftBank Group is the first customer to use Nvidia's Blackwell chips, which will be used to develop an artificial intelligence supercomputer in Japan. The companies plan to build the system — which they call Japan's most powerful supercomputer — in early 2025.