Nasdaq futures dropped 1%, dragging Nvidia shares lower as investors shifted into memory chip stocks following Micron’s guidance of $50 billion quarterly revenue and 84.9% gross margin. Rising AI infrastructure costs—from memory bottlenecks to Microsoft’s 2.67 GW, $7 billion power deal and Samsung’s $648 billion semiconductor plan—are reshaping capital flows away from Nvidia.
Nvidia shares fell after Nasdaq futures slid over 1%, reflecting a wider technology sector pullback. High-beta hardware names were sold off as memory chip stocks gained favor following Micron’s strong revenue and margin outlook.
Micron’s projection of $50 billion in quarterly revenue and an 84.9% gross margin highlights a tight memory supply driving up AI hardware costs. Nvidia’s GPU margin outlook is under pressure if component prices remain elevated.
Microsoft secured a 20-year, 2.67 GW power purchase agreement at approximately $7 billion to support its AI datacenters, while Samsung unveiled a $648 billion semiconductor expansion plan. These infrastructure and memory investments are attracting capital away from traditional GPU names like Nvidia.
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