Nvidia's sales of AI chips are still soaring. Supermicro is growing rapidly but faces some troubling allegations.
An Nvidia spokesperson said Wednesday the company was not subpoenaed by the Justice Department, contrasting a report Tuesday that the company received a subpoena for information as part of an ongoing antitrust investigation into some of the technology sector's biggest players.
Nvidia denied reports on Wednesday that it had received a subpoena from the Department of Justice over antitrust concerns. "We have inquired with the U.S. Department of Justice and have not been subpoenaed.
Nvidia did not receive a U.S. Justice Department subpoena, a spokesperson said in a statement on Wednesday.
NVIDIA Corporation NVDA crushed bubble fears this year and its shares surged more than 100%. However, NVIDIA's stock price recently faced bouts of volatility after tech behemoths trimmed spending on artificial intelligence (AI) and the company's latest quarterly results failed to meet high expectations.
Nvidia stock is in the green after big sell-offs yesterday. The stock fell early in the day's trading due to news about an antitrust investigation into the company.
Amphenol stock was falling for a second day as Wall Street weighed the potential for earnings disappointment from Nvidia design decisions.
Nvidia Corporation's Q2 earnings beat expectations, but concerns about Blackwell chip delays and peaking U.S. revenue likely led to the post-earnings share decline. The lack of quantitative clarity on Blackwell chip sales numbers and the sequential drop in Hopper sales in the U.S. raises concerns about Nvidia's growth prospects. Nvidia's valuation, with a forward P/E of 41.33, appears overextended, suggesting a potential 28.10% downside if adjusted to a more realistic premium.
The semiconductor sector has pulled back since this year's artificial intelligence (AI) buzz pushed key players to record highs.
Nvidia (NVDA) shares tumbled 9.5% on Tuesday, their biggest daily decline since April and their fourth largest this decade. The rout erased about $279 billion from Nvidia's market capitalization, breaking the record for the biggest one-day drop in a U.S. public company's market value.
NVIDIA Corp NVDA experienced a massive $279 billion loss in its market value. This sharp drop came soon after the company released its quarterly financial results.
Investors want to know what's coming next—but things aren't looking so great in the near term.