From mint · A Ksheerasagar · · 1m 10s
Nvidia Shares Rebound After AI Sell-Off
Nvidia shares surge 7.3% Friday after 9.3% plunge, marking biggest single-day crash in nearly two years.
In brief
Nvidia shares surge 7.3% Friday after 9.3% plunge, marking biggest single-day crash in nearly two years. Nvidia shares rebounded 7.3% Friday following a 9.3% drop the previous session, as investors worried about Democratic-led Congress slowing data center expansion. Originally reported by mint.
Nvidia Shares Plunge
Nvidia shares dropped 9.3% Thursday before rebounding 7.3% Friday.
Stock Falls 25% From Peak
The stock remains 25% below its peak after hitting a record high of $243 in mid-October.
Wealth Losses
Nvidia CEO Jensen Huang lost $150.9 billion in net worth, dropping to 13th on wealth rankings.
Political Concerns
Investors fear Democratic control of Congress could slow data center expansion and AI infrastructure.
AI Spending Pressure
Big Tech companies plan to spend over $740 billion on AI infrastructure this year, up from $400 billion last year.
Cash Flow Concerns
Alphabet and Meta reported cash burn in September, while Microsoft reported $18.6 billion in cash flow.
Market Reaction
Nvidia shares rebounded 7.3% Friday to an intraday high of $194.90 after political risks to data center expansion.
In short
Nvidia shares rebounded 7.3% Friday following a 9.3% drop the previous session, as investors worried about Democratic-led Congress slowing data center expansion.
