NVIDIA beats earnings expectations
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Nvidia, stock market
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The stock market’s early rally fizzled by the afternoon, with the S&P 500 swinging from a nearly 2% gain to a slight selloff by midday. Nvidia, which initially jumped after reporting strong earnings, reversed 1% into the red along with the rest of the megacap AI trade.
Michael Burry of "The Big Short" fame once again went after Nvidia over its chips' longevity, its stock dilution, and "give-and-take deals" in AI.
Prosecutors have accused Brian Raymond, founder of AI infrastructure and consulting company Bitworks, and three others of selling coveted Nvidia chips to unspecified Chinese companies.
The CEO of an Alabama AI infrastructure company has been accused of selling Nvidia GPUs for illegal exports.
The chipmaker at the center of the artificial intelligence boom reported blowout results. But that hasn’t resolved some key questions behind the tech rally.
Nvidia bear Jay Goldberg said Nvidia opted to take analyst questions on the earnings call that ended up having "a generally bullish tone." He didn't get to ask one. But there were a few topics he would have addressed with management had he gotten the chance on the public call.
Nvidia’s earnings report crushed analysts’ forecasts and tamped down on the market’s fears of an AI bubble bursting.
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