Tech stocks set for big losing week as AI names get rocked after Nvidia earnings

Core Insights - NVIDIA CEO Jensen Huang highlighted "off the charts" chip sales and dismissed concerns about an "AI bubble" during a recent earnings call, indicating a strong performance in the tech and AI sectors [1][2] - Despite Huang's optimistic outlook, the market reaction was negative, with significant declines in stock prices for major tech companies, particularly within the "Magnificent 7" group [2] Group 1: Company Performance - NVIDIA's chip sales are reported to be exceptionally high, contributing to a positive narrative around the company's performance [1] - Amazon and Microsoft experienced a drop of approximately 6% in their stock prices this week, indicating a broader market correction affecting tech stocks [3] - Alphabet was the only company in the "Magnificent 7" to gain, with an increase of nearly 8%, attributed to the successful launch of Gemini 3 [3] Group 2: Market Trends - The initial positive buzz from NVIDIA's earnings report quickly reversed, leading to losses for most AI-related stocks, with only Alphabet showing resilience [2] - Oracle, a significant customer of NVIDIA, saw its stock decline by about 10%, reflecting the broader market challenges faced by companies reliant on AI technologies [3]