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.

Nvidia stock has suffered its biggest drop in months amid a broader selloff in highly valued technology companies.

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?