Nvidia Corp.’s stock was among the many semiconductor stocks moving lower in Thursday morning action, in the wake of Marvell Technology Inc.’s earnings report which has put a further dent in the artificial-intelligence trade.

Nvidia has only slightly rebounded from six-month lows reached earlier in the week in the wake of the Trump administration’s imposition of levies on imports from Mexico, Canada,

The chipmaker fell sharply early Thursday as its slight earnings outlook failed to impress investors looking for a boost to the AI trade.

"While unwelcome, volatility is common in semi stocks and does not always presage a fundamental shift," Bank of America said.

U.S. equities dipped at midday as confusion over the new tariffs by President Donald Trump led to market uncertainty. The Dow Jones Industrial Average, S&P 500, and Nasdaq were down.

Uncertainty about the impact of new U.S. tariffs weighed on stocks, along with worries about tightening chip export curbs, and competition from China as Alibaba unveiled its latest AI reasoning model, which it said rivals offerings from DeepSeek and ChatGPT maker OpenAI. Alibaba shares climbed about 1%.

The AI chipmaker offered an upbeat second-quarter outlook that was a silver lining in the otherwise downtrodden AI trade.

Shares of networking chips designer Marvell Technology (NASDAQ: MRVL) fell 5.1% in the morning session as markets continued to struggle following the broad selloff triggered by weak economic data in the previous week.

Nvidia ( NVDA) stock briefly extended its decline on Friday as the AI chip giant's market cap losses from its record high in January reached $1 trillion. A broader market sell-off coupled with fears of an overvaluation in the AI trade has sent the stock tumbling more than 23% over the past two months.

Nvidia (NASDAQ: NVDA) stock is getting hit with sell-offs in Thursday's trading. The company's share price was down 5.1% as of 2 p.m. ET amid a 2% decline for the S&P 500 and a 2.5% decline for the Nasdaq Composite.