Nvidia shares gain as ASML and Foxconn both say they still see strong signs of demand for artificial-intelligence semiconductors.

To that end, Nvidia bears frequently highlight custom AI chips from big technology companies like Amazon ( AMZN 2.48%) and Alphabet ( GOOGL -1.51%) ( GOOG -1.54%) as cause for alarm. While both companies have designed custom silicon for their data centers, recent commentary should put Nvidia investors at ease.

Nvidia’s outlook for the January quarter may not wow Wall Street when the company posts earnings next week. But Mizuho analysts see bright prospects for later next year.

Nvidia reports its much-awaited third-quarter results next Wednesday after the market close. On Wednesday Mizuho analyst Jordan Klein said that analyst estimates for its January quarter are targeting $36 billion to $39 billion in revenue.