A rally in Nvidia shares fizzled on Thursday after investors shrugged off a stronger-than-expected revenue forecast and assurances that the AI economy isn’t in a bubble. After initially climbing more than 5%, the stock closed down 3.2% at US$180.64 in New York. The broader market also declined, as investors dialled back bets on a possible Federal Reserve interest-rate cut in December. Nvidia fluctuated in pre-market trading Friday.
Asian AI stocks followed US losses, with equity benchmarks for South Korea and Taiwan both falling by more than 3% Friday.
Before Thursday’s purchase, Ark Investment held more than 1.1 million shares in the world’s most valuable company as of Sept 30, data compiled by Bloomberg show.
The daily trading updates from Ark show only active decisions by the management team and do not include creation or redemption activity caused by investor flows. The price of Ark’s flagship ETF has dropped more than 20% from a peak in October, compared with a decline of 4.3% in the Nasdaq 100 Index over the same period.
See also: Nvidia-led boom set to turn chips into trillion-dollar industry
Uploaded by Magessan Varatharaja
