Tech Hit in Late Hours as Nvidia Fails to Inspire: Markets Wrap
- Chipmaker’s revenue forecast fails to meet lofty expectations
- Company also discloses snag with its new Blackwell chip
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Tech got hit in late trading as Nvidia Corp.’s sales forecast disappointed some hoping for more from the chipmaker at the forefront of the artificial-intelligence revolution that has powered stocks.
A $286 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) lost 1% after the close of regular trading. Nvidia sank 7% after saying third-quarter revenue will be about $32.5 billion. While analysts had predicted $31.9 billion on average, estimates ranged as high as $37.9 billion. The company also signaled that it was working through production snags with its highly anticipated new Blackwell chip.