24H｜Nvidia Jumps 2% in Overnight Trading; BigBear.ai Rises 5%; Micron Tumbles 16%

Tiger Newspress12-19

AI shares jumped in overnight trading. BigBear.ai Holdings up 5%, SoundHound AI Inc rose 4%, Palantir Technologies Inc. up 1.4%.

Big tech stocks mixed in overnight trading. NVIDIA rose 2.3%; Microsoft, Meta Platforms, Inc. rose 1%; Tesla Motors rose 0.4%; Alphabet rose 0.3%; Apple fell 0.4%.

Micron Technology, the largest US maker of computer-memory chips, tumbled 16% in overnight trading after its revenue forecast missed projections by about $1 billion, hurt by sluggish demand for smartphones and personal computers.

Sales will be roughly $7.9 billion in the fiscal second quarter, which runs through February, the company said in a statement Wednesday. That compares with an average analyst estimate of $8.99 billion. Profit will be no more than $1.53 a share, minus certain items, well short of the $1.92 projection.

Though Micron is seeing strong orders for components used in artificial intelligence computing, it still faces lackluster demand from makers of phones and PCs — two markets that consume the majority of its chip volume.

Quantum Computing stocks fell in overnight trading. QUANTUM CORP fell 19%, Quantum Computing Inc. fell 12%, Rigetti Computing fell 6%, D-Wave Systems Inc. fell 4%.

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