Nvidia's stock faced downward pressure as investors digested Taiwan Semiconductor Manufacturing Company's (TSMC) latest earnings report, which highlighted a 57% increase in net income for the fourth quarter. Despite TSMC's optimistic outlook, projecting a 25% revenue growth for 2025 driven by AI demand, concerns lingered over Nvidia's potential reduction in orders for TSMC's advanced packaging technology. TSMC's CEO dismissed these rumors, yet the market remained wary about the sustainability of the AI boom and the implications of new U.S. export controls on AI chips. This cautious sentiment contributed to Nvidia's stock decline.
The ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) saw a decline, closing at $13.63, down 3.88% from the previous close of $14.18.