Ambarella Drops on $800 Million AI Deal News
Ambarella shares fell 21% to $72.18 after quarterly results and outlook failed to ease investor concerns. The company reported Q1 revenue of $100.4 million and a GAAP net loss of $18.1 million, narrowing losses from a year ago. Ambarella announced a long-term Hanwha partnership valued at over $800 million. The broader market was steady as Ambarella slumped.