Nvidia stock was sliding on Thursday as a business partner’s weak outlook took some of the shine off President Trump’s artificial intelligence announcements. The shares were down 1.2% to $145.24 in early trading.

Chip stocks including Nvidia, were falling on Thursday (Friday AEDT) after South Korean memory-chip maker SK Hynix warned of sluggish demand, despite the sector’s prospects linked to Donald Trump’s US$500 billion Stargate AI initiative.

South Korean memory-chip maker SK Hynix's weak guidance appeared to have put tech investors in a bad mood on Thursday. The company's Busan-listed shares fell 2.7% after it posted a record profit but warned of weaker demand this year.

SK hynix has recorded best-ever yearly performance with 66.1930 trillion won in revenues, 23.4673 trillion won in operating profit (with an operating margin of 35%), and 19.7969 trillion won in net profit (with a net margin of 30%).

South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would double this year after reporting a record quarterly profit that surpassed its bigger rival Samsung.

British chip designer Arm (ARM) dropped nearly 6%, and SK Hynix rival Micron (MU) fell nearly 4%. Meanwhile, Nvidia rival Advanced Micro Devices (AMD) and Broadcom (AVGO) both dipped around 1%.

Advt SK Hynix said it began supply of 12-layer HBM3E chips, the most advanced HBM model currently in mass production, to a customer in the fourth quarter. It expects it will start supplying even ...