Palantir shares have fallen around 15% across the last five days of trading, completely erasing gains made near the start of the month.

Wall Street fell further from its records. The S&P 500 lost 0.6% Tuesday, its third straight loss after setting its all-time high last week.

Nvidia ( NVDA 0.94%) owns stock in publicly traded companies as part of its treasury strategy. Its $4.3 billion portfolio included six positions as of the June-ending quarter, but two accounted for 95% of invested assets: 91% was allocated to CoreWeave ( CRWV -3.17%) and 4% was to Arm Holdings ( ARM 1.52%).

Nvidia is set to beat expectations, with strong revenue forecast of $48b for Q2 and expected growth through 2026, driven by demand for AI and new Blackwell architecture.

Just because it's already the biggest company in the world by market cap doesn't mean the GPU leader doesn't have a lot of room to grow.

Meta is another major Nvidia customer, but unlike Amazon, it only uses Nvidia chips for its own AI needs. In fact, it might be spending more on its own AI needs than any other company in the world. And Meta's second-quarter results are a clear example of why it's willing to spend so much.

Nvidia stock has rebounded from its lows earlier this year, and expectations are mighty high as earnings come into view. While competition is rising, Nvidia remains well positioned to capitalize on a number of emerging infrastructure opportunities.