AI-darling fails to impress investors with quarterly report
Futures tracking the tech-heavy Nasdaq and the benchmark S&P 500 were flat on Thursday, after AI-darling Nvidia’s quarterly forecast failed to impress investors but a beat on both revenue and earnings expectations signaled resilient demand.
Semiconductor peers Broadcom and Advanced Micro Devices fell 1.9% and 1.6%, respectively. Shares of chip-making equipment providers Applied Materials and KLA Corp were down 0.1% each. Markets have see-sawed between marginal gains and losses in the run-up to Nvidia’s results, as traders waited to see if the company would sustain its unmatched revenue growth. There was also nervousness about what its earnings could mean for the trajectory of highly valued AI-related stocks.
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