Nvidia Earnings as AI Demand Test

Nvidia reports Aug 26; options market prices $313B swing; $166B revenue forecast; TSMC stock up 0.9% ahead; analysts expect $100B+ Nvidia revenue; TSMC weakening below NT$2,400; P/E contraction to 18.86x; export orders surging 61.9%. Outcome will validate or deflate AI narrative and impact TSMC valuation. Sector de-risking seen with TSMC down 3% ahead. New: TSMC's $1T order book and 15% price hikes reinforce the earnings catalyst.