Tech Down After Nvidia Warning — Tech Roundup
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Shares of technology companies fell after a warning on slowing growth from one major chipmaker.
Nvidia, the maker of graphics chips that long sat at the nexus of several tech trends, warned second-quarter sales would fall well short of its forecast amid a drop in PC gaming revenue in recent weeks.
Take-Two Interactive, a videogame maker that will report earnings after the bell, fell in the wake of Nvidia’s comments.
The Philadelphia Semiconductor Index, known as the SOXX, fell by 1.6%, amid fears that a pandemic-era boom in computer chips was ending.
Shares of Japanese tech investment firm SoftBank Group fell after a crash in the value of its holdings generated a quarterly loss of more than $23 billion.
Amazon.com agreed to buy Roomba maker iRobot for $1.7 billion, giving the online retailer another window into consumers’ homes through an Internet-connected appliance.
In one sign that improvement in investors’ risk appetite was holding, the price of bitcoin rose by roughly 3% to near a three-month high.
Lyft formed Lyft Media, a new business unit consolidating and expanding the advertising offerings at the ride-hailing company.
Write to Rob Curran at rob.curran@dowjones.com
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