Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
OHCHR: We have concerns that Nasser's arrest is part of efforts to eliminate legitimate forms of Palestinian expression
Al Mayadeen's correspondent: Six killed or injured in Israeli drone strike on displaced persons’ tents in Sanabel camp, al-Mawasi, west of Khan Younis
Al Mayadeen's correspondent in Gaza: Several injuries reported as a result of the drone strike on the displaced persons' tent in the Al-Mawasi area, west of Khan Yunis
Al Mayadeen's correspondent in Gaza: An Israeli drone strike targeted a tent housing displaced Palestinians in the Al-Mawasi area, west of Khan Younis, in the southern Gaza Strip
Al-Quds Brigades: Yesterday, we targeted an Israeli special forces unit with a guided 107mm rocket, after it took cover inside a residential building on Al-Mars Street in central Khan Younis, southern Gaza Strip
Abu Obeida: The endurance of our people and the heroism of our resistance fighters alone set the terms and map the future course
Abu Obeida: If the occupation managed, by some miracle, to extract its soldiers from the inferno, it may not be able to do so again, and next time, they could fall into our hands as new captives
Abu Obeida: The war of attrition our fighters are fighting across the entire Gaza Strip, from the north to south, will continue to cost the enemy more losses by the day
Abu Obeida: Our fighters launched their attack from the very ruins the occupation believed were devoid of life
Spokesperson for Al-Qassam Brigades, Abu Obeida: The Beit Hanoun operation dealt another heavy blow to the occupation’s military prestige

Nvidia suffers $279 billion loss in market value as Wall St. drops

  • By Al Mayadeen English
  • Source: Agencies
  • 4 Sep 2024 08:28
  • 1 Shares
3 Min Read

Nvidia's 9.5% plunge, marking the largest single-day loss in market value for a US company, reflects growing investor concerns about the sustainability of AI-driven stock gains.

Listen
  • x
  • A person walks past a sign outside of a Nvidia office building in Santa Clara, Calif., on August 7, 2024. (AP)
    A person walks past a sign outside of an Nvidia office building in Santa Clara, California, on August 7, 2024. (AP)

Shares of AI giant Nvidia plunged 9.5% on Tuesday, marking the largest single-day loss in market value for a US company. 

Nvidia's $279 billion loss in market capitalization may signal a potential downfall in investor enthusiasm against emerging AI technology, which has fueled much of this year's stock market gains. 

The PHLX chip index plummeted 7.75%, marking its largest single-day drop since 2020.
The recent concerns about AI follow Nvidia's quarterly forecast last Wednesday, which fell short of the high expectations set by investors who had fueled a remarkable rally in its stock.

"Such a massive amount of money has gone to tech and semiconductors in the last 12 months that the trade is completely skewed," said Todd Sohn, an ETF strategist at Strategas Securities.

Intel fell nearly 9% after a Reuters report revealed that CEO Pat Gelsinger and key executives are expected to present a plan to the company’s board of directors to cut non-essential businesses and overhaul capital spending at the struggling chipmaker.

Related News

Doha warns of consequences of 'Israel' targeting Iran's infrastructure

Markets suffer worst 100-day start under Trump's second term: FT

Nvidia stocks had tripled in 2024

Concerns over delayed returns from significant AI investments have weighed on Wall Street's most valuable companies in recent weeks. Microsoft and Alphabet have traded lower since their July quarterly reports.

"Some recent research has questioned if the revenues from AI alone will eventually justify this wave of capital spending on it. When assessing AI capex by individual companies, investors must consider if they are making the best use of their balance sheets and capital," BlackRock strategists wrote in a client note on Tuesday.

At its record high in July, Nvidia's stock had nearly tripled in 2024. Despite recent losses, it has remained at 118% year to date. The weakness in chip stocks on Tuesday coincided with broad declines across Wall Street, with the Nasdaq falling 3.3% and the S&P 500 down 2.1%.

That said, investors expect that the Federal Reserve must cut interest rates by 25 basis points in its September 18 policy announcement, according to CME's FedWatch Tool. However, minority expectations for a 50 basis point rate cut increased to 37% from 30% after Tuesday's data indicated that activity in the manufacturing sector remains weak.

Nvidia's financial losses come after surpassing Microsoft to become the world’s most valuable company in a race to take over the market for artificial intelligence in June 2024. Its shares soared 3.5% to $135.58, pushing its market capitalization to $3.34 trillion only days after surpassing Apple.

Stocks rose around 180% this year, as opposed to the increase of about 19% in Microsoft shares, as Microsoft, Meta Platforms and Google-owner Alphabet are competing to establish their AI-computing capabilities and dominate the field. 

  • Stock market
  • Wall Street
  • Microsoft
  • Nvidia

Most Read

Syria demands 1/3 of Golan, Lebanese areas for 'Israel' peace deal

Syria demands 1/3 of Golan, Lebanese areas for 'Israel' normalization

  • MENA
  • 4 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • Today
Al-Qassam hits IOF groupings in Khan Younis; ‘tough incident’ reported

3 Israeli soldiers killed by Resistance gunfire in south, north Gaza

  • Palestine
  • 4 Jul 2025
Concrete and rubble fall from a heavily damaged building as Israeli soldiers search for survivors in a residential area hit by a missile fired from Iran, near Tel Aviv, occupied Palestine, Sunday, June 15, 2025 (AP)

'Israel' concealed damage inflicted by Iran in war, report finds

  • Politics
  • 5 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Big beautiful bill's ugly reality for American healthcare
US & Canada

'Big beautiful bill's' ugly reality for American healthcare

Ukrainian Forces struggle to hold Eastern front lines: NYT
Europe

Ukrainian forces struggle to hold eastern frontlines: NYT

Plan proposes transit camps for Gazans ahead of possible relocation
US & Canada

GHF proposed 'transit areas' plan prior to Gaza residents 'relocation'

Lavrov: IAEA will be held accountable for pre-strike Iran assessments
Europe

IAEA to be held accountable for pre-strike Iran assessments: Lavrov

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS