Nvidia Falls 3.06% Premarket as AI Spending Worries and Megaspeed Report Weigh

1 min read
Nvidia Falls 3.06% Premarket as AI Spending Worries and Megaspeed Report Weigh
PrimeXBT Editorial Team
Reviewed by PrimeXBT

Topics in article

Nvidia shares fell in premarket trading on Friday as weak results from Amazon and Intel revived worries about heavy AI spending. Nvidia is also dealing with a New York Times report about a Singapore data centre firm, and its CEO said the company's dealings with that firm were normal.

Nvidia shares dropped 3.06% in premarket trading on Friday to $207.12, down $6.54 from Thursday's close of $213.66. The fall pushes the stock below the $210 support level and into the $205 to $208 zone.

Nasdaq futures were down 2.44% at around 5 pm IST, while S&P 500 futures fell 1%. Weak results from Amazon and Intel revived worries about heavy AI spending.

Nvidia is also dealing with a New York Times report alleging that Alice Huang, an executive at Singapore data centre firm Megaspeed, was identified by US intelligence as a Chinese asset who grew close to CEO Jensen Huang.

Jensen Huang said Nvidia's dealings with Megaspeed were normal. The company said earlier claims that Megaspeed diverted chips were investigated and dismissed last year.

Source: Coinpedia

Trading involves risk.

Most traded markets

XAU / USD
-2.38% 3,925.41
CRUDE
+0.96% 105.126
BTC / USD
-4.05% 76,758.1
EUR / USD
-0.24% 1.11528
USTEC
-1.73% 28,576.68
COIN
-8.04% 139.73
View all markets

Author

PrimeXBT
Our Editorial Team consists of leading experts with a proven record in the fields of trading, cryptocurrencies, blockchain and finance. We thoroughly research the sources of information in order to provide readers with quality content that serves edu...
Read author’s articles
Alert Triangle Risk Disclaimer
Disclaimer: Some past publications may be outdated. We recommend following our news to stay up to date with the latest information. For any questions, feel free to contact our support team via the chat below.
The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.

Today in markets

Browse Stock News

Register Now

Trading involves risk

Get started in minutes

Our clients love how fast and simple our sign-up is. It takes just a few minutes to get started!

Get Started Get Started
Get started in minutes

Need Help?

Risk Warning:
Trading in leveraged products carries a high level of risk and may not be suitable for all investors.