NVIDIA is trading 3.75% down at $9.50 as semiconductor stocks retreat after Marvell said Google-related AI-chip revenue would contribute much more significantly in fiscal 2029, later than investors expected.
- Reuters reported that the timing concern overshadowed Marvell’s stronger forecasts.
- Surging oil prices, U.S.–Iran tensions, and hawkish Federal Reserve messaging are adding pressure and lifting rate-hike expectations.