Wall Street is holding its breath as Nvidia (NVDA) gears up to report its fourth quarter results on Wednesday. Despite its sky-high valuation, Patrick Moorhead, Chief Analyst at Moor Insights, believes the AI giant still has "a lot of room to grow.

Those issues have raised questions over Nvidia’s near-term financials. And those questions have arrived as investors reckon with the prospect of slower growth from the company and other Big Tech players that have gone all in on AI — generally by spending billions and loading up on Nvidia’s chips.