Nvidia Earnings Spark Chip, AI Stock Selloff

Stocks slid Thursday, weighed down by chip giant Nvidia (NVDA) in the wake of Wednesday’s earnings report, leading semiconductor and other AI stocks lower.

Nvidia shares were down more than 7% in recent trading, putting the stock more than 15% off its all-time high from early January. Fellow chipmakers Broadcom (AVGO) and Micron (MU) both fell about 6%, while the PHLX Semiconductor Index (SOX) dropped more than 5%. 

Nvidia’s slump weighed on the major stock indexes broadly. The…