The chipmaker has been the biggest beneficiary of the race to build AI infrastructure. Recently, though, its stock has come under pressure as the company has pumped billions of dollars back into the AI ecosystem, stoking fears about its role in so-called circular deals that could artificially inflate demand and distort broader economic signals.

By Bill Peters and Britney Nguyen

Aug 25 : Nvidia's results on Wednesday will test whether the company's latest Rubin chips can drive another period of explosive growth, with some investors questioning the…