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Tech stocks fall as investors gear up for Nvidia earnings, OpenAI v. Elon

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Tech stocks faced downward pressure on Monday morning as investors looked toward one of the quarterly earnings report from AI behemoth and $5 trillion+ company Nvidia (NVDA).

Nvidia’s results come out on Wednesday, after CEO Jensen Huang traveled to China with President Trump. Investors were hoping Chinese President Xi Jinping would allow Nvidia to import more chips to the country, but Trump told reporters Friday that China is instead focusing on developing its own AI processors.

Investors are also watching Nvidia competitor Cerebras (CBRS), after its stock soared 68% in its public debut last Thursday, sending a strong signal as the first of many AI company initial public offerings this year.

And jurors in Musk’s lawsuit versus OpenAI (OPAI.PVT) will begin deliberations Monday after lawyers for both sides give their closing arguments Thursday.

Musk’s lawsuit against one of the world’s most valuable private companies has provided a number of details about the inner workings of OpenAI and the relationships between Musk, Altman, president Greg Brockman, former chief technology officer Mira Murati, and former board member and mother of four of Musk’s children, Shivon Zilis.

LIVE 3 updates

  • Pras Subramanian

    SpaceX reportedly issues 5-for-1 stock split as IPO timeline accelerates

    SpaceX (SPAX.PVT) is barreling toward its initial public offering, and it is trying to make its stock even more attractive with a stock split before it even debuts.

    Bloomberg reported over the weekend that SpaceX told its investors it will implement a 5-for-1 stock split, a move that would potentially reduce the price of the stock ahead of its IPO.

    SpaceX informed shareholders that the current fair market value per share has been adjusted to about $105.32 from $526.59 as a result of the split, per Bloomberg sources.

    The stock split will be processed this week and is expected to be officially completed by May 22, the sources said.

    News of the split comes as SpaceX is quickly headed toward the public markets. On Friday, Reuters reported that SpaceX is planning to price its IPO as early as June 11, with the rocket company listing on the Nasdaq starting on June 12.

    Read more.

  • Here’s how Nvidia stock has historically performed after earnings

    Yahoo Finance’s Jared Blikre reports:

    For Nvidia (NVDA) investors, the first move after earnings has historically been only part of the story. Buying the stock just before quarterly results has produced modest short-term gains, but the longer-term picture has been much stronger.

    This chart shows the difference clearly.

    Nvidia: 10-year median return if you buy before earnings and hold for various periods
    Nvidia: 10-year median return if you buy before earnings and hold for various periods · Yahoo Finance

    Since 2016, Nvidia’s post-earnings returns have been positive across every holding period studied. But the edge has been far more modest over the next day, week, or month than over a quarter or a year. The median gain has been only 0.3% after one day, 3.3% after one week, and 0.4%…



Read More: Tech stocks fall as investors gear up for Nvidia earnings, OpenAI v. Elon

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