Nvidia’s (NVDA) stock is quickly rebounding from its steep post-earnings selloff and has recaptured its $3 trillion market capitalization.

For the first time since 2022, Nvidia stock is falling in the weeks leading up to the chip giant's earnings report. Since the end of last quarter, Nvidia stock has dropped 5.7%, including a 2.8% decline Tuesday.

Nvidia stock rose Wednesday ahead of the company’s fiscal fourth earnings report, which is scheduled to be released around 4:20pm ET. The chip maker’s shares closed up 3.7% to $131.28 in the regular trading session,