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Nvidia and Qualcomm Lead Chip Sell-Off as Nasdaq Posts Worst Day Since April 2025
Nvidia and Qualcomm lead chip sell-off as Nasdaq suffers its worst day since April 2025.
Key points
- Nvidia and Qualcomm each dropped more than 9%, with Nvidia losing almost $450 billion in market capitalization.
- Qualcomm had $650 million in data center revenue during the quarter, and CEO Cristiano Amon said the issue is supply, not demand.
- Meta, Alphabet, Amazon and Microsoft each dropped between 2% and 4% on Thursday, and Meta went free cash flow negative in the latest
Why it matters. Investors fear that too much debt and too little revenue could weigh down companies tied to AI infrastructure if spending slows.
Chipmakers slumped on Wall Street on Thursday, with Nvidia and Qualcomm each falling more than 9% as the Nasdaq slid 5.5%. Nvidia alone lost almost $450 billion in market value, while Qualcomm fell after a disappointing earnings forecast for the current quarter. Investors worry the AI buildout is poised to slow amid rising interest rates, ballooning capital needs and the Democratic sweep in Congress.
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Nvidia and Qualcomm Lead Chip Sell-Off as Nasdaq Posts Worst Day Since April 2025
Chipmakers plummeted on Thursday, with Nvidia and Qualcomm each falling more than 9%. Nvidia's decline pushed the Nasdaq to its worst day in 19 months. Wall Street investors worried that the artificial intelligence buildout could slow after the midterm election results. Neocloud operators such as CoreWeave also tumbled for a second straight day. Qualcomm contributed to the sell-off after issuing a disappointing earnings outlook.