To that end, Nvidia bears frequently highlight custom AI chips from big technology companies like Amazon ( AMZN 2.48%) and Alphabet ( GOOGL -1.51%) ( GOOG -1.54%) as cause for alarm. While both companies have designed custom silicon for their data centers, recent commentary should put Nvidia investors at ease.

For what it's worth, Wall Street is overwhelmingly bullish. Among the 65% of analysts who follow Nvidia, 92% rate the stock a buy and the other 8% rate it a hold ahead of the company's third-quarter earnings report. Not a single analyst recommends selling Nvidia at the present time. Here's what investors should know.

Nvidia shares gain as ASML and Foxconn both say they still see strong signs of demand for artificial-intelligence semiconductors.