News Formal

Nvidia suffers record US$279 billion loss in market value as Wall St drops

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 66%

Nvidia Corp Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Shares of AI heavyweight Nvidia tumbled 9.5 per cent on Tuesday (Sep 3) in the deepest ever single-day decline in market value for a US company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data.

Shares of AI heavyweight Nvidia tumbled 9.5 per cent on Tuesday in the deepest ever single-day decline in market value for a US company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data.

Intel dropped nearly 9 per cent after Reuters reported CEO Pat Gelsinger and key executives are expected to present a plan to the company’s board of directors to slice off unnecessary businesses and revamp capital spending at the struggling chipmaker. At its July record high close, Nvidia had almost tripled in 2024. Its recent losses leave it up 118 per cent year to date.

However, minority expectations of a 50 basis point cut rose to 37 per cent from 30 per cent after data on Tuesday signaled activity in the manufacturing sector remains soft. Following Nvidia's quarterly report last week, the mean analyst estimate for annual net income through January 2025 has climbed to US$70.35 billion from about US$68 billion ahead of last week's report.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 6. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Nvidia suffers record $279 billion loss in market value as Wall St drops:Shares of AI heavyweight Nvidia tumbled 9.5 per cent on Tuesday in the deepest ever single-day decline in market value for a U.S. company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data.
Bron: ChannelNewsAsia - 🏆 6. / 66 Lees verder »

Leveraged Nvidia ETF issuers saw trading surge in bearish products ahead of earningsInterest in leveraged exchange-traded funds that allow investors to profit when shares of Nvidia fall grew steadily ahead of the chipmaker's quarterly results, according to data from some of the companies that issued the products.
Bron: ChannelNewsAsia - 🏆 6. / 66 Lees verder »

Nvidia's forecast dampens AI enthusiasm in other tech stocksShares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong forecast from the dominant seller of AI chips would fuel fresh gains in Wall Street's most valuable companies.
Bron: ChannelNewsAsia - 🏆 6. / 66 Lees verder »