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Nvidia Corp.’s stock was among the many semiconductor stocks moving lower in Thursday morning action, in the wake of Marvell Technology Inc.’s earnings report which has put
a further dent in the artificial-intelligence trade.
About three months back, Marvell MRVL appeared to cement itself as an AI darling, thanks in part to a multiyear contract with Amazon.com Inc. that some analysts thought would set the company up on a much better growth path. With that backdrop, hopes were high heading into Marvell’s report, and the company’s slim beats with its results and outlook weren’t enough for Wall Street.
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