Experts say the sharp 9.5% drop in Nvidia shares reflects investors’ growing wariness of artificial intelligence technologies amid a broader market decline.
The significant losses come after Nvidia’s latest quarterly guidance missed lofty market expectations. PHLX also took a significant hit, falling 7.75%, its biggest one-day decline since 2020. The crisis has been exacerbated by recent concerns about whether significant investments in AI will be able to generate sufficient returns.
Intel shares also fell nearly 9% after reports emerged that CEO Pat Gelsinger was planning a strategic restructuring of the company. Meanwhile, other tech giants such as Microsoft and Alphabet also saw declines after the release of quarterly reports.
Source: Ferra
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