$400B Wiped From NVIDIA in AI Rout; Premarket Bounce Tests Whether Damage Is Done
NVDA is trading near its 52-week low of $164.27 (15% above the low) on elevated volume (2.6× avg).
Summary
NVIDIA fell 9.3% Thursday, erasing more than $400 billion in market value, as a broad AI and tech selloff followed Democrats' midterm sweep. The Nasdaq 100 dropped 6.4% and the S&P 500 lost 4.4%, its worst session since last year's 'liberation day' rout, with roughly $3.2 trillion of U.S. market value gone. Shares were up about 4% premarket Friday, but the debate has shifted to whether tighter data-center construction scrutiny cuts chip demand. Yorkville Ives' Dan Ives now models roughly 10% fewer data centers, with cuts as deep as 15%-20%, and sees Big Tech capex growth peaking in 2027 instead of 2028-2029; he prefers software and flags AMD as a relative beneficiary. Raymond James' Larry Adam calls it a buying opportunity, noting some semis trade near 30% discounts to historical valuations. The real test is the Nov. 17 earnings report: consensus is $2.48 EPS on $109.17 billion revenue versus $1.30 and $57.01 billion a year earlier.
At the time of this announcement, NVDA was trading at $188.59 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.4T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.