NEW YORK, July 17, 2026, 08:09 EDT
NVIDIA Corporation NASDAQ:NVDA was set to open 2.35% down at $202.52 ahead of Friday’s session, with U.S. cash markets yet to open. Shares declined even after news of a new Japan-funded AI factory.
At that level, Nvidia dropped 4.7% from its Wednesday close. Based on a preliminary estimate using the May 15 share count, the market value loss is about $242 billion.
The order appears significant when viewed alone. KeyBanc analyst John Vinh projects Rubin GPU shipments will total between 1.7 million and 1.8 million in 2026. Noetra’s purchase of 27,500 GPUs represents roughly 1.6% of the midpoint of that forecast range.
The unit count is not expected to significantly change annual shipment forecasts. The project’s operating schedule also appears to extend past the coming several quarters.
The 140-megawatt facility is set to deploy 13,750 Vera CPUs. Construction will begin in April 2027, with operations planned to commence in June 2028.
“Japan invented modern manufacturing,” Chief Executive Jensen Huang said in Nvidia’s statement. NVIDIA Investor Relations
The shift in shares signals a broader adjustment. The Philadelphia Semiconductor Index has dropped over 19% since its late-June peak. The index was on track for its steepest weekly decline since March 2025.
Shares in the AI supply chain moved lower in premarket trading. The following quotes were recorded between 7:26 and 8:03 a.m. EDT.
| Company | Thursday close | Thursday move | Friday premarket | Premarket move |
|---|---|---|---|---|
| NVIDIA Corporation | $207.40 | -2.40% | $202.52 | -2.35% |
| Advanced Micro Devices NASDAQ:AMD | $500.94 | -5.33% | $485.15 | -3.15% |
| Taiwan Semiconductor Manufacturing NYSE:TSM | $409.74 | -2.32% | $396.79 | -3.16% |
TSMC reported a record 77.4% increase in second-quarter profit, surpassing expectations from analysts. Revenue totaled $40.2 billion for the period. The company projected third-quarter revenue in the range of $44.6 billion to $45.8 billion.
Nvidia posted quarterly revenue of $81.6 billion. The company’s data-center revenue climbed to $75.2 billion, a rise of 92% compared with a year earlier.
Nvidia advanced 8.3% for the week ending July 10. The indicated price for Friday was 4.0% below that closing level.
Risks: Harsher export restrictions, delays in product transitions, and reductions in customer spending could impact forecasts negatively. Nvidia notes that transitions may cause revenue to fluctuate more sharply. The company is still largely excluded from China’s data-center sector.
The key test next week is set for Wednesday when Alphabet NASDAQ:GOOGL reports results, drawing attention to AI capital expenditure. Any reduction in spending may impact the chip supply chain.
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