Nvidia retraces post-earnings gains, stock down 2% as AI trade cools
Nvidia's stock fell nearly 2%, erasing its post-earnings rally despite strong results, signaling a cooling in the broader AI trade.Summary
Nvidia's stock reversed its 6% post-earnings surge, trading down nearly 2% on Thursday, despite the company reporting blowout quarterly results that beat expectations with $57 billion in revenue, driven by massive demand for its AI data center chips.
CEO Jensen Huang dismissed bubble concerns, stating demand for new Blackwell systems was "off the charts" and cloud GPUs were "sold out," while also projecting strong fourth-quarter revenue.
However, market optimism faded quickly, causing Nvidia shares to give back all gains. This reversal mirrored weakness across broader markets, with tech stocks like Google and Tesla also erasing rallies, and Bitcoin falling from its recent highs, raising concerns about the sustainability of the current AI-driven trade.
(Source：Crypto Briefing)