NVIDIA The stock continued to rise ahead of the release of its latest earnings report.

The AI ​​chipmaker’s shares have risen nearly 30 percent in the past two weeks, adding about $750 billion to the company’s market capitalization. That has also helped the tech-heavy Nasdaq gain more than 7 percent since its Aug. 5 low.

The rally comes as the Santa Clara, California-based semiconductor giant expands its recovery of a large drop that 900 billion dollars deleted in market value. The chip manufacturer – whose chips are used to Train generative artificial intelligence models – has become a barometer of the health of AI demand and enthusiasm due to its outsized role in the industry. Its stock has also become a market-driving force.

Nvidia’s (NVDA) The recovery contributed in part to the eight-day winning streaks of both the Nasdaq and the S&P 500 – both ended on TuesdayIf the S&P 500 had recorded nine days of gains, it would have been the longest winning streak in the last two decades.

NVIDIA (NVDA) The stock was unchanged in premarket trading Wednesday after falling about 2% to $127.25 per share on Tuesday. The company has a market capitalization of $3.13 trillion, behind only Apple (AAPL) and Microsoft (MSFT).

In the last eight trading days, the “The Magnificent Seven“Technology Stocks – Apple (AAPL)Google parent Alphabet (GOOGL)Microsoft (MSFT)Amazon (AMZN)parent Facebook meta (META)Tesla (TSLA)and Nvidia – have increased their combined market capitalization by $1.4 trillion – about half of the market capitalization gain of $3.2 trillion of the entire S&P 500, according to Yahoo Finance.

The chip giant will release its second-quarter earnings report after the market closes next Wednesday, August 28. Analysts and investors will be keen to see if Nvidia can continue to deliver stunning results quarter after quarter. The company’s results also often make a splash in the market.

Nvidia reports record Sales in the first quarter of $26 billion – a 262% increase from the previous year. Revenue for the quarter ended April 28 rose 18% from the last quarter’s revenue of $22 billion, which had exceeded Wall Street’s high expectations and was nearly 270% higher than the year before.

Following the announcement of the first quarter results The share price exceeded the $1,000 mark for the first time. Wedbush analysts called the company’s record performance a “championate quarter” and “the ultimate barometer of the AI ​​revolution.”

The shares closed at a record high of $135.58 on June 18, after initiated a stock split in a ratio of 1:10 Beginning of the month.