29 August 2024
Nvidia Forecast Dampens AI Enthusiasm in Tech Stocks
Nvidia's forecast dampens AI interest in other tech stocks. The company's forecasts for the third quarter led to big falls in the shares of technology giants. Broadcom and AMD lost 2 percent, Microsoft and Amazon 1 percent.
It was a discouraging sign for investors betting that a strong forecast from the dominant vendor of AI chips would drive new gains in Wall Street's most valuable companies.