NVIDIA rose 3% to $208.24 in afternoon trading, snapping a four-session losing streak, though it remains down 11% over the past month; its market value reached $5.03 trillion. AMD gained 5% and Broadcom 3% as chip stocks moved higher together. Misha Laskin, CEO of NVIDIA-backed startup Reflection AI, warned that Chinese AI labs giving away open models abroad will start selling their own chips and data centers, while the Financial Times reported NVIDIA has told cloud clients to sell at least 51% of their services to non-Chinese companies. NVIDIA has removed China data center compute from its outlook, and China revenue including Hong Kong fell to $19.7 billion in fiscal 2026 from $25.0 billion. The stock trades at 17x forward earnings, a five-year low versus a five-year average of 36x.
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Related tickers and likely impact
NVDA
▲ Likely positiveNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/02/2026 | 202.06 |
| Change that session | -1.26% |
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.13 |
| Change that session | -1.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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