Nvidia shares fell more than 2% from the previous day, putting them on track for a 7th consecutive daily decline ahead of the company's earnings announcement on the 26th. The stock is currently trading just below $210.
On 24 August U.S. time, Nvidia shares fell more than 2.2% in a single session and were reported to be on track for a 7th consecutive daily decline. The stock has fallen by a total of nearly 7% over the 7-day slide.
Nvidia is scheduled to announce its second-quarter results on the 26th, heightening investor concerns. Weak earnings outlooks from major AI companies, including Meta, have also weighed on the market. According to Bloomberg, the company has reportedly told major customers that it plans to raise prices by up to 15% next year in response to surging memory costs for AI servers.
Declines in semiconductor-related stocks such as AMD and TSMC, along with a 2.7% drop in the SOX Index, have also weighed on the broader market. Criticism of circular financing involving major customers such as OpenAI and Anthropic, as well as opposition to data center expansion, have been cited as sources of concern for the stock.
Forbes estimates that CEO Jensen Huang's wealth fell by approximately $3.8 billion (about ¥610 billion) as the stock plunged. Some Wall Street analysts continue to expect the stock to rebound while maintaining price targets of $350.
Changes in the external environment surrounding the company's business model, including criticism of government-building reforms and debate over data center construction, are casting a shadow over the stock's performance.