Nvidia and Qualcomm drop more than 9% each as Nasdaq posts steepest fall since April 2025
Shares of Nvidia and Qualcomm each lost more than 9% in a single session, pulling the Nasdaq down 5.5%. Investors fear AI infrastructure spending could cool, which would weigh on chipmakers' growth expectations.
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Nvidia and Qualcomm both fell by more than 9% in one trading day. The decline helped drive the Nasdaq lower by 5.5%, its sharpest drop since April 2025.
Two concerns were behind the move. One is that spending on AI infrastructure may slow after the midterm elections. The other is a weak earnings forecast from Qualcomm. Together they raised doubts about how durable demand for AI hardware will be.
Separately, several outlets relaying a Bloomberg report said Nvidia's Chinese customers would receive only about 1% of roughly $70 billion worth of RTX chips they had ordered. Seoul Economic Daily also reported a similarly small share of Chinese orders being filled, citing a supply crunch. These reports are based on headlines and summaries only, so timing and terms are unconfirmed. No source directly links them to the selloff.
Chipmakers priced for strong AI demand tend to react sharply to signs of slower capital spending or constrained supply, because revenue forecasts depend on large orders continuing.
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Tom's Hardware (scout)
Community · EN · published Nov 4, 12:15
CNBC Top News
Major outlet · EN · published Nov 5, 21:16
Tags: #Nvidia#Qualcomm#Semiconductors#Artificial intelligence#Nasdaq#China