The bigger they are, the harder they fall
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 4 September 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
AI chipmaking company Nvidia lost $279 billion in market value yesterday, and its shares kept falling in after-hours trading overnight. Despite reports of an escalating Department of Justice antitrust probe, the stock’s decline centers more on questions around the future of artificial intelligence. We hear more. We also explore the shifting geography of U.S. oil production and learn how gaps in USDA food programs are being filled by tribal governments.
Transcript
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| 0:00.0 | The bigger they are, the harder they fall. |
| 0:04.0 | From Marketplace, I'm Sabrie Venashore, and for David Brancaccio. |
| 0:08.0 | AI Chip-making company, NVIDIA, |
| 0:10.0 | lost $279 billion in market value yesterday, and its shares kept falling in after-hours trading |
| 0:16.7 | overnight. |
| 0:17.7 | The company reportedly received subpoenas from the U.S. Department of Justice yesterday, according |
| 0:21.6 | to Bloomberg. That's part of a probe into |
| 0:24.0 | whether NVIDIA violated antitrust laws. But the stocks decline centers more on |
| 0:29.1 | questions around the future of artificial intelligence itself as |
| 0:33.0 | Henry up reports. |
| 0:34.0 | Invidia Chips power artificial intelligence systems which |
| 0:37.6 | tech companies like Google, Apple, Facebook, and Amazon have been pouring |
| 0:41.8 | billions into in the last few years. |
| 0:44.5 | But the big question for the industry is when or if those investments will ever pay off. |
| 0:49.4 | And the longer it takes for tech companies to start showing that they found ways to actually make money with AI, |
| 0:54.7 | the more investors have gotten wary of buying NVIDIA stock at top prices, |
| 0:59.2 | even though the chipmaker itself keeps turning healthy profits. |
| 1:02.8 | Invidia's downturn is also tied to broader concerns among investors |
| 1:06.7 | about the direction of the global economy, especially in the U.S. and China. |
| 1:11.4 | More uncertainty in the market means some investors have pulled back |
| 1:14.7 | from riskier sectors like AI, but a bit more insight into the health of the |
| 1:19.2 | U.S. economy is coming later this week in the August jobs report on Friday. I'm Henry App for |
... |
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