Overall, Nvidia results were important, but the commentary and forward guidance was more important for the direction of the stock. These results put to bed fears about a future decline in revenue or a drop in market share as competitors catch up. That is a concern for another day. The fact that the Nvidia CEO can put his name to uber bullish comments about AI, saying that it is at a tipping point and has permeated many industries and regions, suggests that Nvidia has become an important gauge of the global macro economy. While it may not be as macro as the Fed, it is potentially the most important leading economic indicator. The world is rapidly moving towards a future powered by AI, and Nvidia is the chief hardware provider that is powering the AI revolution. This is expected to boost global productivity and revolutionize the labour market. This will require global central banks and governments to react.