US stock futures traded mixed on Thursday as Nvidia (NVDA) shares fell, after the AI chipmaker's earnings beat was overshadowed by weaker-than-expected data center revenue.
Dow Jones Industrial Average (YM=F) rose 0.2%. Those on the S&P 500 (ES=F) were little changed, wheil contracts on the tech-heavy Nasdaq 100 (NQ=F) tipped 0.1% lower.
Nvidia earnings beat on the top and the bottom lines, but its data center revenue missed expectations, spooking investors and raising fresh questions about the sustainability of the AI boom. Meanwhile, the chip giant's total revenue hit a record but also showed its slowest pace of growth since the first quarter of its fiscal year 2024.
Following the results, Nvidia CEO Jensen Huang touted “extraordinary” demand for the company's Blackwell AI chips and said that he sees China as a $50 billion opportunity. Nvidia is currently navigating shifting US regulations on chip sales to China, recently nearing a deal with the Trump administration to pay the US government a 15% cut of sales to the country.
In other corporate earnings after the bell, cloud analytics firm Snowflake (SNOW) soared as its results indicated the company is benefitting from AI investments. HP (HPQ) stock took a wild ride before stabilizing as investors assessed the tech company's ability to withstand new tariffs. Meanwhile, CrowdStrike (CRWD) shares fell after its results signaled cautious clients amid economic uncertainty.
Read more: The latest on Trump's tariffs
On Thursday, Wall Street will receive an update on GDP growth as well as a slate of earnings from Best Buy (BBY), Dollar General (DG), Dick's (DKS), Dell (DELL), Marvell (MRVL), Gap (GAP), and Affirm (AFRM).
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