Any anxiety that Nvidia’s earnings would trigger a traumatic tech-sector correction was misplaced. True, shares of the world’s biggest listed company slid a little after US markets had closed on Wednesday. But if there is a correction to come — and there may be — it will take more to precipitate it.
The dominant maker of chips for artificial intelligence beat estimates for both revenue and profit in its most recent financial quarter. But as Nvidia gets bigger, overachievement gets harder. Revenue of $47bn grew smartly, but at the slowest sequential rate since late 2022, when the launch of ChatGPT sparked AI mania.
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