Nvidia’s quarterly forecast fails to impress investors, shares fall

Nvidia’s quarterly forecast on Wednesday failed to meet lofty expectations of investors who have driven a dizzying rally in its stock as they bet billions on the future of generative artificial intelligence.

Shares of the chipmaker fell 6 per cent in after-hours trading, weighing on shares of chipmakers including Advanced Micro Devices and Broadcom, as well as other tech behemoths. The report has been seen as a day of reckoning for the tech sector and the results were treated as mixed, despite heady growth and profit.