Nvidia remains the dominant AI chipmaker in the market, but where is the stock headed for the rest of this year and into the next?

What Happened? Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) fell 3.5% in the afternoon session after investors took some profits off the table as markets awaited signals on future monetary policy from the Federal Reserve's Jackson Hole symposium later in the week.

While most of AI's power players have already reported, the ultimate industry bellwether, Nvidia (NASDAQ: NVDA), has yet to step up to the plate. The semiconductor giant is scheduled to announce results on Aug. 27, and expectations could not be higher.