What's Going On With Intel Shares Nosediving Thursday

Intel Corporation INTC shares are trading lower by 6.47% to $27.12 Thursday morning in possible reaction to strong quarterly earnings from NVIDIA Corporation NVDA, which could be indicating strong demand for AI GPUs and driving competition concerns.

What Happened With NVIDIA Earnings?

Santa Clara, California-based Nvidia’s first-quarter earnings came in at $1.09 per share, ahead of the consensus estimate of 92 cents per share.

First-quarter revenue came in at $7.19 billion, also exceeding the Street estimate of $6.52 billion.

In late February, Nvidia guided to revenue of $6.5 billion plus or minus 2%, which translates to a range of $6.37 billion to $6.63 billion...Read More

According to data from Benzinga Pro, INTC has a 52-week high of $44.93 and a 52-week low of $24.59.