Nvidia was edging down early on Thursday. The latest technology-company earnings might sound some alarms over demand for artificial-intelligence technology.
Nvidia shares were down 0.4% at $773.27 in premarket trading.
Nvidia stock closed down 1.3% at $776.63 on Wednesday. That left the chip maker valued at around $1.97 trillion overall.
Earnings reports from technology companies have generally been a boon for Nvidia this year so far, with Big Tech companies flagging huge investment in artificial-intelligence systems. The latest tech results were more mixed, with coming from data-software company Snowflake on Wednesday but AI analytics company C3.ai comfortably for its own earnings.
Snowflake shares were down 22% in premarket trading on Thursday. Nvidia and Snowflake teamed up to offer generative AI to the data company’s customers. C3.ai shares were up 16% in premarket trading.
Nvidia is still striking more partnerships. On Wednesday, it said it had joined workflow-management software company ServiceNow and open-source-AI provider Hugging Face in releasing StarCoder2, a family of open-access AI models for code generation.
Other chip makers were also slipping early on Thursday. Advanced Micro Devices was down 0.6% and Intel was falling 0.7%.
Nvidia shares have risen 57% this year to date through to Wednesday’s close. That compares with a 6.3% rise in the S&P 500 index and a 6.2% rise in the Nasdaq Composite Index over the same period.
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