US stocks lose their footing at the open as tariff and AI worries take hold again. Marvell Technology sees a slowdown in data center business.
Shares of Marvell Technology (MRVL 2.05%), which makes semiconductors for the data infrastructure market, dropped 14.9% in Wednesday's after-hours trading session following the co
The strong results helped to ease concerns about beaten-down AI stocks, which surfaced yesterday after fellow chipmaker Marvell Technology Inc. only just delivered to expectations and fell sharply Thursday morning.
Key Takeaways U.S. equities dipped at midday as confusion over the new tariffs by President Donald Trump led to market uncertainty.Artificial intelligence chip shares tumbled following Marvell Technology's results.
Semiconductor stock Marvell Technology Inc (NASDAQ:MRVL) is up 2.7% to trade at $88.13 at last glance, brushing off today's headwinds, though it was earlier on track for its seventh loss in nine days.
Marvell stock is getting crushed after posting its Q4 results yesterday. Sales, earnings, and guidance actually beat the average Wall Street targets. But investors apparently wanted bigger performance beats in order to support the stock's valuation amid wider risk factors.
Nvidia ( NVDA -5.74%) stock is getting hit with sell-offs in Thursday's trading. The company's share price was down 5.1% as of 2 p.m. ET amid a 2% decline for the S&P 500 and a 2.5% decline for the Nasdaq Composite.
The chipmaker fell sharply early Thursday as its slight earnings outlook failed to impress investors looking for a boost to the AI trade.
Nvidia sells the lion’s share of the parallel compute underpinning AI training, and it has a very large – and probably dominant – share of AI inference.
Marvell Technology's shares closed down 19.8%, marking their worst day in more than two decades and weighing on rival chipmakers' stocks on Thursday, after an in-line revenue forecast gave investors another reason to be jittery about spending on AI infrastructure as a years-long rally shows signs of cooling.