Tech stocks lost over $1 trillion in value in a single day. The Philadelphia Stock Exchange Semiconductor Index reached its longest losing streak since 2008. High interest rates fueled investor concern regarding the sustainability of AI-related spending.
NVIDIA CEO Jensen Huang addressed the market volatility during an event in Berlin. Huang stated that the current turbulence will pass and emphasized AI as a fundamental growth driver for all industries. He provided no new financial guidance, advising investors to focus on long-term fundamentals over choppy news.
NVIDIA shares fell 1.43% during the session. This decline showed more resilience than competitors like Intel, which experienced steeper drops. The stock's relative stability suggests continued investor confidence in NVIDIA’s leadership within the AI sector.