Quarterly reports from Intel and Amazon triggered a selloff in tech stocks in the post-market hours.
- Nvidia is in discussions to provide credit guarantees for an Nscale data center facility that Anthropic plans to use, Bloomberg reported.
- Investor Jason Calacanis, a co-host of the All-In Podcast, bought shares of Nvidia as well as Alphabet on the dip
- Retail sentiment for NVDA remained ‘bearish’ for a second day.
Nvidia Corp. (NVDA) shares fell 2% in overnight trading ahead of Friday’s session amid a broad-based selloff in AI infrastructure stocks, driven by mixed reports from Intel (INTC) and Amazon (AMZN) and a report that the chipmaker was in talks to provide credit support to data center operator Nscale.
Nvidia is in discussions to provide credit guarantees for an Nscale data center facility that Anthropic plans to use, Bloomberg reported late Thursday, citing people familiar with the matter.
UK-based Nscale is racing to get a series of large data centers online, including this flagship site in West Virginia. It is also pursuing an initial public offering, with some investors pushing back on its $30 billion IPO target.
Nvidia’s credit support, as an investor in Nscale and its GPU supplier, would help backstop the electricity and construction costs for an AI data center campus in West Virginia, according to the Bloomberg report.
AI Selloff
Chip and AI infrastructure were sharply lower in overnight trading, with Advanced Micro Devices (AMD) down 6.4% and Micron (MU) down 3.4%. Intel plunged 23% after it forecast December quarter sales and profit below expectations and flagged persisting weakness in the PC market.
Gene Munster, managing partner at Deepwater Asset Management, noted that Intel’s report and selloff have little bearing on Nvidia.
“The $INTC (down 17% in after-hours) guide down should not be extrapolated on $NVDA(down 1.3%). Bottom line: Main issue is PC demand… Nvidia has been beating numbers despite high memory costs and Jensen was bullish last week at GTC Berlin. $SPCX, $META, $GOOG all said Capex in CY27 will be significantly higher than 2026,” he said in an X post.
Meanwhile, investor Jason Calacanis, a co-host of the All-In Podcast, bought shares of Nvidia and Alphabet on the dip, calling them “two exceptional companies with exceptional leadership and exceptional products.”
Retail View On NVDA
On Stocktwits, retail sentiment for NVDA remained ‘bearish’ for a second day, though several traders stayed optimistic about the stock.
“$NVDA clowns are out tonight in full force. Good sign. Holding/owning shares is the only way to win this game,” said a trader.
A trader echoed Munster’s view and wrote, “As this overnight dip is likely Intel related, I wouldn’t over react. Intel is Not in the conversation when you compare the 2 companies. Had it not been for the Government buying shares it wouldn’t be anywhere the price that it is at this moment.”
Year to date, NVDA stock is up 15%.
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