Nvidia stock drops 8.5%—Biggest one-day fall in a month

Nvidia Corp., the leading AI chipmaker, saw its stock drop 8.5% on Thursday—its steepest decline in a month—after delivering quarterly results that, while strong, failed to meet sky-high investor expectations.

The company reported fiscal first-quarter sales guidance of approximately $43 billion, slightly ahead of analysts’ $42.3 billion average estimate but falling short of some higher projections that reached $48 billion. The dip in stock value follows concerns that demand for Nvidia’s AI chips could slow as data center operators cut spending.