Wall Street expects Nvidia to report earnings per share of $1.01 on revenue of $46.13 billion. A slew of Wall Street analysts have raised their price targets on Nvidia leading into the release, but at least one of those analysts warned the quarter may not impress to the level investors have become accustomed to over the past several years.

A wobble in U.S. technology shares has raised the stakes for Nvidia Corp's quarterly results on Wednesday, with earnings from the semiconductor giant posing a crucial test for the scorching AI trade.

Nvidia is set to release its quarterly results after the market closes Wednesday, with analysts expecting sales could reach another record high, despite an anticipated hit from export curbs.