Super Micro and Nvidia Slump as AI Winners Lead Tech Selloff
- Lack of a preannouncement could be a risk, Wells Fargo says
- Shares of Super Micro up 151% this year despite recent selloff
The Super Micro Computer Inc. headquarters in San Jose.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Super Micro Computer Inc. and Nvidia Corp plummeted on Friday, with the two AI favorites leading a broad-based tech selloff.
The maker of equipment to handle artificial intelligence work sank 23%, its biggest drop since August, and it closed at its lowest in more than two months. Chipmaker Nvidia’s 10% drop made for its steepest plunge session since the start of the pandemic in March 2020, and it closed below its 50-day moving average for the first time since November. The slump erased nearly $212 billion off its market capitalization.