The biggest company in the world by market capitalization beat expectations and raised guidance, but Nvidia (NVDA, -5.5%) was a major drag on the main equity indexes the day after its earnings report. Mega-cap tech names, including the leader of the AI revolution and most of the Magnificent 7, as well as every other notable chipmaker, led the way lower even as the total number of stocks that rose exceeded those that fell on Thursday.
Nvidia lost about $260 billion in market cap even after Chief Financial Officer Colette Kress confirmed the semiconductor superstar's revenue opportunity related to its Blackwell and Rubin AI data center platforms will exceed the $500 billion management forecast last fall.
