Nvidia closed at $200.13 after an intraday low of $199.68, its first trade below $200 since August 3, even as the S&P 500 gained 1.58%. The stock fell 3.17% as Big Tech rallied on Democrats' midterm wins, with investors seeing possible limits on new data center construction as a risk to chip demand. Apple's $5.10 trillion market value passed Nvidia's, which had been the world's largest company a day earlier. The consensus price target of $327.14 implies about 63.5% upside, and Nvidia guided third-quarter revenue to $108.0 billion, plus or minus 2%, with results due November 17. The shares remain about 16.3% below their October 6 record close of $239.24.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
NVDAsemiconductorsdata centers
Open a keyword to see other news on the same topic.
Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Massive market rotation raises question: Is the sell-AI trade here to stay?
On Wednesday, tech saw a sharp rotation into hyperscalers, while semiconductor and data-centre infrastructure stocks fell after a Democratic election win. Amazon rose 6.1%, Microsoft 6.7%, Alphabet 3.2% and Meta 1.4%, with Goldman's desk seeing both long-only and hedge funds rotating in. Investors reportedly viewed tighter permitting, water and power rules and possible moratoria as making new builds harder and existing powered compute more valuable, while CoreWeave fell 9.9% and Nebius 6.7%. Capacity-risk warnings added to the move: Brad Gerstner said regulatory friction could halt 10–15 GW of expected 2027 US data-centre capacity, and SemiAnalysis flagged 16.7 GW of planned 2028 Texas capacity as at risk. Goldman also relayed the concern that semis could flip to an inventory correction if power and sites lag chip deliveries.
- Advanced Micro Devices (AMD): AI Data Center Sales Jump 107% as Helios Racks Roll Out
The article opens with a sharp week for big tech stocks: Alphabet lost $477 billion in market value at its low on Friday, Intel fell as much as 30% on Friday after a weak outlook, and Amazon shed about $70 billion. Eli Lilly, Tesla and SK Hynix added about $370 billion combined over the same period. UBS argued that leaving the market is not an effective way to protect a portfolio from drawdowns, and said investors should build a resilient portfolio with exposure beyond tech. AMD makes processors for servers, PCs and game consoles, and now sells AI accelerators and full server racks to data centers, which investors favor as large AI buyers sign multiyear deals for its newest hardware.
- Micron and other chip stocks slip as election results strike at the core of data-center optimism
Micron and other chip stocks slipped as election results came in. Democratic wins in Texas and other states raise long-term questions about the AI buildout, though the article notes these results do not 'unwind projects already funded'.
- Where Could NVIDIA's Next Growth Come From?
NVIDIA reported fiscal Q2 2027 revenue of $96.2 billion, up 105.9% year on year, and management expects about 70% growth in fiscal 2028, though supply constraints limit that forecast. The new Vera Rubin data center hardware began production shipments in August 2026, with orders already placed by major AI cloud providers and hyperscalers, and management expects it to make up about 20% of data center revenue in fiscal Q3 2027. Management puts NVIDIA's revenue opportunity at $40 billion per gigawatt of Vera Rubin AI data center capacity, versus $25 billion for Blackwell, and AWS plans to deploy an additional 2 million NVIDIA GPUs. Risks include supply bottlenecks through at least fiscal 2028, rising memory costs, and NVIDIA's nearly $50 billion investments in frontier AI labs, which management acknowledged some may call circular financing. The stock closed November 3, 2026 at 13.6% below its October 6 high, returning 2.3% over the past year versus 11.9% for the S&P 500, and trades at 25.9 times trailing earnings against 22.8 for the index.
- Oracle cancels $7 bln chip leasing deal with Tencent, FT reports
Oracle has scrapped a $7 billion chip leasing contract with Tencent after increased pressure from the Trump administration, the Financial Times reported. The five-year lease, signed earlier this year, would have given Tencent access to as many as 100,000 advanced AI chips in data centers across southeast Asia, but it was canceled after U.S. officials raised concerns. Beijing also scrutinized the deal and asked Tencent to seek domestic chips. According to the FT, Nvidia has told cloud clients to sell at least 51% of their capacity to non-Chinese companies, while ByteDance and Alibaba still hold large chip leasing deals with U.S. providers. Oracle is a major supplier to ByteDance in Asia, with several data centers in Malaysia.
- Nvidia Reportedly Restricts Chinese Access to AI Computing Through Overseas Data Centers
According to the Financial Times, citing five people familiar with the matter, Nvidia has told data center partners to reduce exposure to Chinese customers. Cloud customers must now generate at least 51% of their service sales from companies outside China, and the instruction was reportedly conveyed verbally rather than in writing. The report says this does not bar all Chinese customers from Nvidia-powered cloud services, but limits the share of sales to Chinese companies. The move comes as Washington has restricted sales of certain high-performance chips to China since at least 2022, and earlier this year several senior Super Micro employees were charged over alleged smuggling of about $2.5 billion of Nvidia AI servers to China; the charges do not establish guilt.
Related markets
Latest news
- Voters Just Made Microsoft's Data Centers More Valuable, a Wall Street Veteran Says
Microsoft closed at a record $555.80 on Nov. 4, up 6.68% and adding about $259 billion in market value, after midterm results in which voters rejected data center projects in all but one of 41 local measures. Investors expect limits on new construction to make existing capacity scarcer and more valuable, though Art Hogan of B. Riley notes that a slower build-out also means slower capital spending. In Texas, Democrat Gina Hinojosa defeated Governor Greg Abbott after calling for a halt to new data center approvals, and Goldman Sachs estimated that states likely to tighten rules account for about 45% of planned U.S. capacity. Microsoft reported $45.2 billion in capital expenditures and $18.6 billion in cash flow, unlike rival cloud giants that have turned cash-flow negative. The article warns that if the limits stick, slower spending could slow Azure's 48% growth.
- Banks are turning cautious on lending, according to the Fed. What it means for the economy
A new Federal Reserve survey, published Nov. 2, shows U.S. banks tightening lending standards in the third quarter, particularly for smaller businesses, riskier households and commercial property. The survey covered 61 domestic banks and 18 U.S. branches of foreign lenders. Banks tightened standards on premiums charged on riskier loans for firms of all sizes, as well as on nonbank financial firms such as private equity funds. For households, mortgage standards were broadly unchanged, while tighter rules for subprime loans contrasted with some easing for jumbo mortgages. The 10-year Treasury yield hit an intraday high of 5.349% on Oct. 5, its highest since April 2002, and a separate Fed survey found the share of families behind on loan payments reached almost 20% at the end of 2025, up from about 12% in 2022.
- Apple Stock Is Up 22%, but 1 Slowing Business Could Test That Valuation
Apple stock is up about 22% this year through Nov. 3, roughly double the S&P 500's 11% gain, pushing its valuation to about 38 times earnings. Services, the high-margin business that has helped justify that premium, grew 10% year over year in the fiscal fourth quarter, down from about 12%, and management expects 8% to 9% in fiscal 2027 Q1, citing licensing headwinds and currency shifts. Services carried a 76% gross margin and made up 40% of gross profit. Total revenue rose 15% in fiscal 2026 to a record $479 billion, and Apple expects the holiday quarter to be its best for revenue ever. If services growth falls short of the 8% to 9% forecast, the article argues the premium valuation could be harder to justify.
- Snap Tumbles 11% as User Growth Miss and Sluggish Ad Sales Overshadow Return to Profit; Pinterest Dips, Meta Holds Steady
Snap swung to a profit in Q3, with net income of $56 million against a $104 million net loss a year earlier, but its revenue of $1.72 billion came in slightly below the $1.73 billion consensus and daily active users of 495 million missed the 499 million estimate. Subscriptions drove growth: other revenue jumped 84% and paid subscribers passed 30 million, while advertising revenue rose only 4%. CEO Evan Spiegel said ad revenue growth “remains below our ambitions,” and the company tied a decline in brand advertising to lower consumer packaged goods spending. Starting with Q1 2027 results, Snap will make monthly active users its main audience metric; it reported 977 million MAUs in Q3, while North America daily active users fell 6% year over year. Shares fell 11% to $5.30 in morning trading, while Pinterest was down 0.5% and Meta up 0.2%.
- Vistra Cratered by 25% This Year: One Wall Street Team Says 110% Returns Ahead for Investors
Vistra trades at $120.24 after falling 13.86% in the latest session to a 52-week low of $117.28, and is down 25.13% this year. CEO Jim Burke said ERCOT wholesale prices near $30 per MWh are too low to support new plants, and CFO Kris Moldovan said 2027 adjusted EBITDA is trending toward the lower end of the $7.4 billion to $7.8 billion range. Second-quarter revenue of $4.02 billion missed consensus by 27.24%, partly due to a $472 million unrealized hedge loss. Hyperscaler deals still support the story: Meta signed 20-year PPAs for more than 2,600 MW at Vistra’s PJM nuclear sites, and AWS contracted up to 1,200 MW at Comanche Peak. Against a consensus target of $204.32 implying about 69.9% upside, BNP Paribas Exane’s Street-high target of $255.00 implies roughly 112% upside, while skeptics note hedge coverage falls to about 72% in 2028.
- Ed Yardeni Says Slowing AI Boom Is Actually Bullish for Big Tech
Big Tech has spent years pouring record sums into artificial intelligence. Veteran strategist Ed Yardeni says he has long held that a slowdown in the AI build-out is actually a bullish story.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.