Nvidia just reminded investors why it remains the undisputed king of AI chips. The semiconductor giant’s forecast of 70 percent revenue growth extending through 2028 sent shockwaves through pre-market trading on Wednesday, lifting futures and igniting a broad rally across technology stocks. By 8:00 a.m. ET, Nasdaq futures had jumped 1.1 percent while Nvidia itself surged 7.4 percent before the opening bell.
The enthusiasm, however, wasn’t universal. While semiconductor stocks climbed 3 percent and memory chip makers gained 3.6 percent, only two of the so-called Magnificent Seven tech giants posted gains. Tesla edged higher alongside Nvidia, but Apple fell 1.1 percent and Microsoft dropped 1 percent. Amazon, Alphabet, and Meta Platforms all traded in the red, suggesting investors are becoming more selective even as AI mania continues.
CrowdStrike emerged as another bright spot, rallying 9 percent after raising its full-year forecast. The security software company’s strong results contributed to a 2.3 percent gain across the software sector, while AI infrastructure plays like Intel and Advanced Micro Devices rose 2 percent and 1 percent respectively.
What does this mean for the broader market? Retail investor behavior has shifted noticeably, moving away from ETFs toward individual stock picks. The Magnificent Seven names remain the most purchased, while commodities largely stumbled with energy and base metals dragging prices lower. Bond yields ticked up just one to two basis points as traders digested the tech surge against a backdrop of mixed economic signals.
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