AI chipmaker Nvidia (NVDA) saw its shares dive on Friday after key hardware partner Super Micro Computer (SMCI) announced its next earnings date without giving preliminary results. Nvidia stock fell in tandem along with other highflying AI stocks.
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On the stock market today, Nvidia stock sank 10% to close at 762.
The drop came after data-center hardware specialist Super Micro revealed that it will release its fiscal third-quarter results on April 30. But unlike recent quarters, it didn’t update its sales and earnings guidance.
Super Micro stock plummeted 23.1% to close at 713.65.
AI Stocks Lose Their Luster
That took the shine off AI stocks, which have skyrocketed on heavy investments by cloud computing service providers building systems for generative artificial intelligence.
Shares of Nvidia rival Advanced Micro Devices (AMD) dropped 5.4% Friday to 146.64.
Chip designer Arm Holdings (ARM) saw its stock fall 16.9% to 87.19. Recent IPO Astera Labs (ALAB), which makes connectivity chips for AI systems, saw its shares sink 9.1% to 64.49.
Custom AI chipmakers Broadcom (AVGO) and Marvell Technology (MRVL) watched their stocks retreat 4.3% and 4.8%, respectively.
Micron Technology (MU), which makes advanced memory chips for AI systems, saw its shares sink 4.6% to 106.77.
Elsewhere on Wall Street, Microsoft (MSFT), a major player in generative AI, saw its stock slide 1.3% to 399.22.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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