BlackRock’s Wei Li Says Nvidia Still Shows Earnings Pricing Power as Investors Await Results

Investors are waiting for Nvidia’s next quarterly earnings report, and one of the most closely followed voices in global asset management is still framing the company’s AI business as an industry with pricing power. In an interview with Yahoo Finance, BlackRock Global Chief Investment Strategist Wei Li said she remains optimistic about the artificial intelligence trade despite the market’s ongoing debate about whether the buildout phase is nearing a plateau.

Li’s argument centers on how supply and pricing are behaving for Nvidia’s AI hardware. She said she believes Nvidia has “earnings pricing power,” a phrase used by investors to describe whether a company can raise or defend prices in a way that flows through to revenue and margins, rather than being forced to cut prices to maintain volume.

In the same discussion, Li referenced the role of “scarcity sellers,” suggesting that market participants who have leverage due to limited availability have not fully lost that advantage. She characterized sellers in the market as still “doing quote a bit,” language that points to trading and pricing influenced by constrained supply or high demand rather than a clean transition to abundant inventory.

The comments come at a time when expectations for large AI hardware suppliers are tightly linked to the timing of customer procurement cycles and how quickly new orders can replace older ones. For Nvidia, that means the market will watch whether reported results reflect continued strong demand for AI accelerators, or whether spending begins to shift away from peak purchasing levels.

What Nvidia will disclose in its upcoming report is likely to be the key catalyst for how Li’s view plays out. The Yahoo Finance interview does not provide specific quarterly figures, guidance updates, or pricing metrics. Instead, it frames the thesis around pricing leverage and investor positioning as the earnings event approaches.

Company and sector context is important because Nvidia sits at the intersection of semiconductors and enterprise AI infrastructure. Its GPUs and related software are widely used to train and run machine-learning models, and demand is closely tied to data center investment by cloud providers and large enterprises building or expanding AI capacity. When the market believes supply is constrained and customer demand remains strong, pricing power tends to look more durable; when the market expects supply to catch up quickly, pricing leverage typically becomes a harder claim to sustain.

Even with Li’s confidence, there is uncertainty about what “pricing power” will mean in the final numbers. Nvidia has not, in the cited discussion, laid out any specific pricing assumptions, margin targets, or product-level revenue breakdowns. As a result, investors may still disagree on whether the pricing effect will show up as higher unit economics, better gross margins, or simply improved revenue mix, depending on what the company reports.

As the earnings date draws near, traders and long-term investors will likely focus on how management describes demand, backlog or order trends, and the company’s outlook for the period after the report. Li’s comments set a tone of continued optimism for AI exposure, but the market’s next move will still depend on what Nvidia reports for revenue growth, profitability, and forward-looking guidance. Investors will also watch for any indication that “scarcity” dynamics are easing or persisting.