Nvidia fell 9.5% on the day and lost $280 billion in market capitalization.
Nvidia suffered the largest one-day loss in market capitalization in the entire stock market history
On Tuesday, its shares plummeted by almost 10%.a fall that had no clear justification until, after the market closed, Bloomberg revealed that The Department of Justice (DoJ) had sent subpoenas to Nvidia and other companies, seeking evidence of possible violations of antitrust laws by the chip manufacturer.
Nvidia plunged 9.5% on Tuesday, losing $280 billion in market capitalization on Tuesday alone. more than the total value of Toyota, Hermès or Pepsico.
Nvidia received a Department of Justice subpoena of the United States in the framework of a antitrust investigation.
Furthermore, “the market has so far counted on the massive deployment of artificial intelligence (AI) infrastructures (…) However, there are Underestimated risks in terms of the scale and pace of adoption of generative AI“, he assured EFE The analyst Hyun Ho Sohnfrom the investment fund manager Fidelity International.
Last week Nvidia presented its second quarter financial results of the fiscal year, highlighting a record performance driven by its Data Center segment, which continues to be the company’s main growth driver. Total revenues reached US$30.04 billion.
“Nvidia’s presentation comes at a time of Much uncertainty in the market after the events of the last few weeks that triggered volatility. For this reason, and because of Nvidia’s tendency to give extraordinary presentations, it is perhaps Too much expectation was generated about it“said a report by IOL (InvertirOnline).
Source: Ambito
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