That’s a lot of layoffs.

So they got all that money from Uncle Sam’s CHIPS Act only to lay off 10,000 employees and make themselves “lean”. Govt funded unemployment.

  • Justin@lemmy.jlh.nameEnglish
    0·
    3 months ago

    That’s true, Nvidia’s fall will probably crash the whole market. SOXL tickers don’t trade in unison though, see how much Intel fell in the premarket without affecting other stocks. Of course, Intel is a tenth of the size of Nvidia.

    • _bcron@lemmy.worldEnglish
      0·
      3 months ago

      Yeah, the tail could definitely wag the dog. NVDA is now in the top 3 holdings of both SPY and QQQ, so if something like 2 Metas or 1 Microsoft started paring back and skipped on a product cycle, Nvidia’s forward metrics would suddenly be garbage, and between those couple companies, suddenly >15% of market is tanking and dragging entire sectors along for a wild ride