Nvidia has received a subpoena from the U.S. Department of Justice as the regulator seeks evidence that the AI-heavyweight violated antitrust laws, Bloomberg News reported on Tuesday, citing people familiar with the investigation.
NVIDIA Corporation NVDA's second-quarter report was viewed of the most important earnings prints in recent memory and a gauge for how the overall stock market could perform going forward.
The chip maker's shares have averaged declines when looking back at past September performance — but the stock is still more likely to rise than fall.
Nvidia Corporation's Q2 performance was exceptional, with data center revenues up 155% y/y and gaming revenues rebounding, showcasing strong overall growth. The rise of Sovereign AI presents a massive growth opportunity for Nvidia, as nations prioritize data privacy and security, driving demand for AI infrastructure. Nvidia's automotive segment is gaining momentum, with significant growth in self-driving platforms and AI cockpit solutions, positioning it for future success in the AV market.
Investors are feeling skittish ahead of the U.S. jobs data report that's expected to be released Friday. While the Fed is expected to cut rates this month, the likelihood of a recession may be rising.
Shares of AI heavyweight Nvidia tumbled on Tuesday, with Wall Street's chip index slumping 7% as investors softened their optimism about AI in a broad market sell-off following tepid economic data.
As I'm writing this, NVIDIA Corp. (NVDA) stock is down more than 8% for the day, trading at about $109 and change.
Semiconductor stocks, led by Nvidia, fell Tuesday during an overall down day for the market. Chip stocks have been rising in the past year on optimism that the AI boom will require companies to buy more semiconductors and memory.
Despite tech volatility seen in early August, US stocks closed the month of August with gains as optimism grew around potential Fed rate cut.
Nvidia and other semiconductor stocks fell Tuesday amid reports of industry sales weakness and an economic slowdown in China.
U.S. stock indexes staggered toward their worst day in weeks, with losses from trillion-dollar technology companies like Nvidia propelling the decline as lingering concerns about global economic growth weighed on commodity and equity prices alike.
Nvidia stock continued the downward trend that began early last month. Investor sentiment is waning for the AI chipmaker, but there's a long runway ahead.