The S&P 500 at new all-time highs and eyes are on NVIDIA

NVIDIA earnings are once again in focus as investors look for confirmation that the AI-driven rally in US stocks can continue.

In this video, Russ Mould examines the latest results from the Magnificent Seven — including NVIDIA, Amazon, Alphabet, Apple, Meta, Microsoft, and Tesla — and explains why investors remain enthusiastic despite mounting concerns around cash flow, capital spending, and balance sheet risk.

Key topics covered:

• Why the S&P 500 continues to hit record highs
• The impact of AI spending on US tech stocks
• NVIDIA earnings expectations explained
• What weakening free cash flow could mean
• Why buybacks are slowing across Big Tech
• Risks investors should monitor in AI stocks

The Magnificent Seven have delivered another remarkable earnings season, but rising capital expenditure and growing competition are creating important questions for long-term investors.

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