According to CoinMeta, Nvidia and Micron are expected to drive more than half of the earnings growth in the S&P 500 technology sector, as semiconductor revenue surged by 62% due to large-scale AI infrastructure spending. The latest data shows that the S&P 500 technology sector is expected to see earnings grow by 41.9% year-on-year in the third quarter, but without these two semiconductor companies, the growth rate would be halved. The overall semiconductor industry is expected to experience an 85.4% surge in earnings, however, the growth of non-hardware technology companies is relatively modest. Nvidia is expected to report quarterly earnings growth of 90%, while Micron is poised to achieve 938% earnings growth, mainly driven by demand for high-bandwidth memory modules.