New York, June 7, 2026, 09:03 (EDT)
Nvidia, the AI chip giant, starts the new week with less market premium after Friday’s chip selloff wiped out about $1.3 trillion from U.S. semiconductor stocks and took more than $300 billion off Nvidia’s own value. The Nasdaq is closed Sunday. Normal trading runs Monday to Friday, 9:30 a.m. to 4 p.m. Eastern.
Stocks dropped hard in big tech. The Nasdaq composite sank 4.2% on Friday. S&P 500 was down 2.6%. Nvidia and Broadcom were some of the day’s biggest drags after a strong jobs report raised bets on a Federal Reserve rate hike. Higher borrowing costs from the U.S. central bank could be coming.
Nvidia shares dropped fast instead of drifting lower. The stock finished June 5 at $205.10, down 6.20% after opening at $214.53. On the week, Nvidia is off about 2.9% from $211.14 at the May 29 close.
The drop didn’t come after any fresh profit warning from Nvidia. Back in May, Nvidia posted record quarterly revenue of $81.6 billion. Its Data Center division, the company’s AI-infrastructure arm, brought in a record $75.2 billion. Nvidia also predicted second-quarter revenue of $91.0 billion, give or take 2%.
Traders came in Friday looking for a reset. “The dam just broke today” after the long equity run, said Ryan Detrick, chief market strategist at Carson Group. Ohsung Kwon, chief equity strategist at Wells Fargo, described semiconductors as “way overbought” but said, “I don’t think it’s the end of the semi bull market.” Reuters
The competitive message was mixed. Broadcom and Marvell both build custom chips for cloud-computing clients, a segment seeing interest as top tech firms try to get away from Nvidia’s costly and scarce AI processors. Marvell’s spot in the S&P 500 points to how AI hardware is changing index makeup.
Nvidia and South Korea’s SK are set to announce a cooperation plan before the U.S. market opens on Monday in Seoul. SK Hynix said SK Chairman Chey Tae-won and Nvidia CEO Jensen Huang will brief the media. Huang said the project could involve AI supercomputers, CPUs, PCs and robotics, and noted memory shortages could continue for “several years.” Reuters
Crowded calendar next week, with more than just Nvidia in focus. SpaceX is expected to price its IPO on June 11 and start trading on Nasdaq a day later. Oracle and Adobe will also report, giving investors more to work with in the tech sector. Jason Pride, chief of investment strategy and research at Glenmede, said the key question with the SpaceX IPO is whether it “is an indication of market froth.” Reuters
Nvidia bulls could have bigger problems if Friday wasn’t just a crowded-trade shakeout. If the CPI inflation data out June 10 at 8:30 a.m. revives worries about rates, investors might cut what they’re willing to pay for future profits, and money could shift from current chip leaders to other AI plays.
The bull story is still there. Nvidia posted strong revenue, the Seoul agenda is in play, and Huang said supply can’t keep up with demand. That doesn’t mean the stock is shielded from rate moves, rivals, or a market that wants results rather than stories.
Traders will watch Monday to see whether buyers step in after Friday’s drop, or if more funds trim Nvidia and other AI plays, following the steep chip-index slide. Even a flat start for Nvidia could stand out.
