Stock market today: Dow, S&P 500, Nasdaq futures tread water as Wall Street braces for Fed decision

Nvidia (NVDA) shares turned slightly higher in premarket trading, up about 1% as investors digested a stream of news from the chipmaker’s annual GTC event.

The highlight: the next-gen Blackwell Ultra chip, unveiled by CEO Jensen Huang in his keynote on Tuesday. The latest: Nvidia is joining an Abu Dhabi-backed project to develop AI infrastructure pioneered by Microsoft (MSFT) and BlackRock (BLK).

The stock is set to claw back some losses after the AI bellwether’s shares closed over 3% lower on Tuesday. But the jury is still out on whether Nvidia has given its stock bulls the truly fresh catalyst they want, Yahoo Finance’s Brian Sozzi reports.

“Jensen delivered the goods and gave the grand AI vision for Nvidia, and that’s what long term investors want. Short term, traders wanted something more granular, and just like CES, that was unrealistic,” Wedbush tech analyst and Nvidia bull Dan Ives said. “We graded this [an] A+ keynote — inflection point in AI spend.”

Read more on what Wall Street is saying here.