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Nvidia Unveils Robot Training Tech, New Gaming Chips, and Toyota Deal
Nvidia CEO Jensen Huang delivers a keynote address at the Consumer Electronics Show (Artur Widak/Getty Images)
chips smushed

Nvidia slips after poor guidance from one of its “great partners” and fears of chip export curbs

SK Hynix’s quarterly results and comments from the Dutch prime minister are casting a pall over the industry.

Luke Kawa

Nvidia is falling in the premarket after one of its suppliers delivered a lackluster outlook and the Dutch prime minister cautioned that additional export restrictions on chips may be in the offing.

South Korea-based SK Hynix — one of Nvidia’s “great partners,” per CEO Jensen Huang — reported blowout fourth-quarter earnings and raised its dividend. But its guidance for the current quarter and plans to only modestly increase capital spending this year disappointed investors, contributing to a pullback in its shares along with those of the $3 trillion chip designer.

However, the parts of its business most linked to the AI boom still look to be in good shape. Management said that sales of its high-bandwidth memory (HBM) chips, a key input for data-center build-outs, are expected to more than double this year after being up 4.5x in 2024. Meanwhile, the company is looking for “inventory adjustment” in the consumer market in the near term before a recovery in the second half of 2025.

SK Hynix’s outlook, along with comments from Dutch Prime Minister Dick Schoof, appear to be driving consolidation across the semi space after a hot run saw the VanEck Semiconductor ETF rise nearly 9% over the last five trading days amid the rollout of the Stargate project. Micron and Dutch-based ASML are two notable underperformers in early trading on Thursday.

Schoof warned that further export curbs to China under US President Donald Trump’s administration were likely.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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