Coming up just short of the 4% gain that the S&P 500 has enjoyed since the start of the year, Nvidia (NASDAQ: NVDA) has risen only about 3.4% in 2025. It may feel unfamiliar to see the artificial intelligence (AI) superstar in this position considering it soared 171% in 2024 while the S&P 500 ripped more than 23% higher.

Key Takeaways Nvidia is set to report fourth-quarter results after the market closes Wednesday.The chipmaker is expected to post another quarterly sales record on strong demand for its advanced chips.

There's no doubt that the world's second-most valuable stock is important. But the AI harbinger has taken on a different role of late as other stocks have supplanted the "Magnificent Seven" as the engine of this year's gains.