NEW YORK, Feb 2, 2026, 07:21 EST — Premarket
- Nvidia shares fell 0.7% in premarket trading after CEO Jensen Huang pushed back on chatter around a $100 billion OpenAI investment.
- Traders were already skittish as U.S. stock index futures slid and the AI trade faced tougher scrutiny on spending and returns.
- Investors are looking to Nvidia’s Feb. 25 results for fresh clues on demand and supply constraints.
Shares of Nvidia (NVDA) fell 0.7% in premarket trading on Monday to $191.13, after ending Friday at $192.43.
The dip comes at a jumpy moment for the AI (artificial intelligence) trade, with investors turning less forgiving about big capital spending (capex) plans that do not quickly show payback. U.S. stock index futures were lower after a sharp selloff in precious metals, while policy uncertainty also hung over markets. (Reuters)
Nvidia has become a proxy for that debate. The chipmaker sits inside the AI buildout, but its shares have been quick to track shifts in risk appetite and headlines tied to the funding cycle around key AI customers.
Over the weekend in Taipei, Nvidia Chief Executive Jensen Huang said the company planned a “huge” investment in OpenAI and called it “nonsense” to suggest he was unhappy with the ChatGPT maker. Asked if it would top $100 billion, Huang replied: “No, no, nothing like that.” (Reuters)
Huang also used his Taiwan trip to lean on suppliers and flag bottlenecks. “TSMC needs to work very hard this year because I need a lot of wafers,” he said, referring to Taiwan Semiconductor Manufacturing Co, which makes advanced chips on silicon wafers used in AI systems. “We need a lot of memory this year,” Huang added, pointing to tight supplies of memory chips used in AI workloads. (Reuters)
Other chip and AI-linked names were lower in early trading. Advanced Micro Devices fell 6.1%, Marvell Technology slipped 3.0% and Taiwan Semiconductor’s U.S.-listed shares were down 2.7%, while Microsoft was off 0.8%.
Nvidia is due to report results for the fourth quarter and fiscal year ended Jan. 25 on Feb. 25 at 5 p.m. ET, the company said. It will also post written CFO commentary shortly before the call. (NVIDIA Investor Relations)
That report is the next hard checkpoint for a stock that has been trading on expectations. Investors will be listening for how management frames demand, supply and the pace of spending by big customers building out AI data centers.
But the setup cuts both ways. Any hint that AI spending is slowing, or that supply constraints drag on shipments, could hit sentiment fast — especially with the market now quick to punish expensive growth stories when cash returns look distant.
For now, traders are treating the Feb. 25 results as the next catalyst, with Huang’s OpenAI comments and supply-chain pressure points sitting in the background as the opening bell approaches.
