NEW YORK, Jan 5, 2026, 13:54 EST — Regular session
- Nvidia shares fell as investors waited for CEO Jensen Huang’s CES appearance later Monday.
- Foxconn reported record quarterly revenue, citing demand for AI products and server racks.
- Bridgewater founder Ray Dalio warned the AI boom is in an “early stages” bubble phase.
Nvidia shares were down 0.5% on Monday as investors waited for CEO Jensen Huang to headline a CES press conference in Las Vegas at 4 p.m. ET, according to the conference schedule. The chipmaker has faced tougher questions from rivals and even large customers building their own artificial intelligence chips.
The timing matters because Nvidia is the bellwether for AI hardware demand, and its comments can ripple across chipmakers, server builders and the big cloud companies writing the checks. After a strong 2025 for U.S. equities, traders have started 2026 watching whether AI spending can keep justifying premium valuations.
A fresh datapoint arrived from Foxconn, Nvidia’s biggest server maker, which said fourth-quarter revenue jumped 22.07% from a year earlier to a record T$2.6028 trillion ($82.73 billion). Foxconn said the result beat the LSEG SmartEstimate — a consensus that gives more weight to analysts with stronger forecasting track records — and it said demand for AI server rack products should keep first-quarter performance near the upper end of its past five-year range.
AI-linked stocks traded unevenly. Broadcom fell 1.7% and AMD slid 0.9%, while Marvell rose 1.3% and Palantir gained 3.7%; Intel was up 0.6% and Super Micro Computer fell 2.4%. Nvidia traded between $187.10 and $193.58 on the day.
At CES, investors want clarity on product cadence and customer demand for Nvidia’s newest graphics processing units, or GPUs — chips used to train and run AI models. They also want to hear how quickly buyers are shifting budgets as competition grows, and whether the company sees any change in the pace of big orders.
Policy risk is another overhang. Nvidia is trying to show that its flagship “Blackwell” processors outperform older models such as the H200, which U.S. President Donald Trump has allowed to be exported to China; the H200’s popularity has drawn scrutiny from U.S. lawmakers concerned about national security, Reuters reported. Reuters
But the trade has become more two-sided, with investors weighing blockbuster growth against the risk that spending slows once early AI infrastructure is built. Bridgewater founder Ray Dalio added to that caution on Monday, writing that the AI boom is “now in the early stages of a bubble.” Reuters
Macro data could also jolt sentiment, especially for long-duration growth stocks that tend to react to interest-rate expectations. Investors are watching Friday’s U.S. nonfarm payrolls report for clues on the Federal Reserve’s path in 2026.
The next immediate catalyst for AI stocks is Huang’s CES appearance later Monday, where traders will parse any shift in tone on demand, competition and China-related constraints.
