Closing Bell Overtime: NVIDIA Slips but Software Bounces 2/26/26

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 26 February 2026

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets digest a wave of earnings as volatility lingers and NVIDIA struggles to hold gains. Why NVIDIA’s pullback matters and what it could mean for the broader AI trade. Results roll in from Block, Dell, Intuit, Autodesk, CoreWeave, Flutter and Zscaler, shaping sentiment across payments, enterprise tech and infrastructure. Saira Malik, Chief Investment Officer at Nuveen, argues that four forces are driving volatility: trade policy, central bank leadership, AI disruption and developments in the Middle East. She explains why earnings must do the heavy lifting as elevated valuations limit upside and why fixed income fundamentals remain solid even as defaults tick higher. Bradley Tusk of Tusk Ventures joins to discuss where VC is placing its money in tech. Aneesha Sherman of Bernstein explains why TJX’s experiential model may protect its premium multiple and outlines her $175 price target.

Transcript

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0:00.0	The bell is bringing an end to the trading day at the NYSC Air Cap ringing the closing bell and at the NASDAQ, CANT, strategic holdings, doing the honors. Welcome to closing bell overtime. Live from Studio B at the NASAC market site. I'm Melissa Lee along with Mike Santoli. Talk tech stocks selling off the NASAC down more than a percent. The Dow basically flat. InVIDIA, though, unable to hold
0:20.8	onto its gains from the after-hour recession yesterday, losing 5 percent of its value. That's a couple
0:24.9	hundred billion dollars in market cap. And taking other chip names down with it, more on the
0:29.2	markets coming up. But we do have another very busy day of earnings also ahead. Our reporter
0:34.4	standing by waiting for reports from Block, Intuit, Dell, Corweave Z Scaler,
0:39.6	Autodesk, and Flutter. But let's start with the big moves in Invidia and the rest of the chip stocks,
0:45.4	Christina Parchnevos, has been tracking all that for us. Christina.
0:48.6	I just got busted for Danube to the music, but NVIDIA's Blockbuster Quarter just wasn't enough
0:52.5	to keep investors on board. Like you guys talked about, shares falling over 5%, even after the chipmaker reported record revenue
0:59.0	and a guide of at least $5 billion higher than the highest estimates on the street.
1:04.0	The weakness did spread, Broadcom, AMD, Micron, on your screen, all 3% lower.
1:09.0	Sandisk was the outlier in the memory space.
1:12.1	Shares closed higher up to the company and SK Hynix, another memory maker,
1:15.5	formally kicked off to consortium on Wednesday evening to standardize high bandwidth flash,
1:21.1	which is a new memory architecture designed that could actually help supply.
1:25.1	So that's why shares closed higher.
1:26.6	Meanwhile, software caught a
1:28.1	bid today, although it's seen the largest non-recessionary 12-month drawdown in over 30 years.
1:33.1	InVity's CEO pushed back on that yesterday, actually this morning, saying to CNBC's Becky Quick
1:38.5	that the market has it wrong on software. Salesforce offered some relief, beating estimates,
1:43.8	and reinsuring investors. Its business
1:45.5	isn't being displaced by AI. Snowflake also gained, narrowing its losses as it leans into
	...

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