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Nvidia’s 6% premarket surge is putting a spotlight on the leveraged ETF trade, with traders looking for ways to magnify the AI chip giant’s latest move.
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Nvidia stock fell 6.4% on Tuesday as the company faces multiple federal investigations following revelations that CEO Jensen Huang had an affair with a suspected Chinese spy. The FBI is investigating the matter, and Democrats are calling for Congressional inquiries. The scandal threatens potential chip export restrictions and could impact Nvidia's government influence. The company will report Q3 earnings next week.
All 11 sectors are lower in Tuesday's regular session, with Financials, Consumer Staples and Consumer Discretionary at the top of the table. The leaders are clustered rather than separated, with the first three sectors grouped within a narrow range of performance.
NVIDIA and Commvault have announced a collaboration to help enterprises improve the usability, governance, and security of data used in AI applications and agents.
IonQ's stock surged following Q3 earnings that significantly exceeded expectations, with revenue jumping 336% to $173.8 million. The company demonstrated strong growth in platform revenue and quantum computing systems, though it continues to burn cash. While positioned as a quantum computing leader with high-accuracy systems, analysts recommend a diversified quantum basket approach rather than single-stock betting due to competitive risks in the nascent industry.
Chip stocks trade at 9 times 2028 earnings after a 38% crash. Cantor says buy the dip; Bank of America sees a trough tied to data center policy.