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Nvidia beats Q4 forecast but US tech stocks reverse gains amid volatility
Nvidia beat estimates but US tech stocks fell as investors weighed AI spending and rate-cut uncertainties.
Nvidia reported a stronger-than-expected revenue forecast of around $65 billion for fiscal Q4, above analyst estimates of ~$62 billion. Despite the upbeat outlook, US tech indices reversed sharply: the Nasdaq Composite dropped 2.2% and the S&P 500 fell 1.6% as concerns over AI spending and macro risks resurfaced.
Investor caution is rising over the sustainability of AI-driven valuations and the timing of possible rate cuts by the Federal Reserve.