The rumoured February 2025 Nintendo Direct is still happening, according to a prominent leaker. With the month halfway over and still no official word from Nintendo, some fans have begun to question whether a Direct would really happen as earlier rumors suggested. Still, some in the community believe that the Direct will come sometime in the next two weeks.
There does seem to be a lot of speculation but not a whole lot coming from Nintendo themselves. I know we are waiting on more information regarding the Nintendo Switch 2 but that seems to be in April.
Source: Game Rant