Nvidia sets fresh sales record amid fears of an AI bubble and Trump’s trade wars
Nvidia, the leading chipmaker, reported strong second-quarter sales, surpassing Wall Street expectations for its artificial intelligence (AI) chips. However, the company's shares dropped 2.3% in after-hours trading, indicating that investors' concerns about an AI bubble and the impact of Donald Trump's trade wars have not been alleviated. The financial report was the first test of investor sentiment since last week's mass selloff of AI-related stocks, which saw several tech companies' shares plummet amidst growing questions about the overvaluation of AI-driven businesses. Despite the record-breaking sales, the drop in Nvidia's stock price suggests that investors remain cautious about the long-term prospects of the AI industry and the potential risks posed by the ongoing trade tensions between the US and its trading partners.
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