Nvidia Beats Forecasts but Stock Falls: Market Fears End of AI Euphoria

Nvidia, the undisputed leader in graphics processing unit manufacturing, once again presented a financial report that significantly exceeded analysts' expectations. Revenue from the data center segment grew by 75%, confirming that the world's largest corporations continue to aggressively invest in the computing power necessary for training language models. Despite this, the market reaction was paradoxical – the company's stock began to fall, which experts interpret as a classic 'sell the news' mechanism. Investors are looking with concern at the video game segment, which recorded a decline, as well as signals of a possible saturation of the graphics card market. Nvidia, which has become a de facto barometer of the cycle for the technology sector, is now setting the direction for the entire Nasdaq index, forcing market players to revise their previous strategies based on perpetual growth. In 1999, at the peak of the dot-com bubble, companies like Cisco or Intel reported record profits, but their stock market valuations outpaced their real cash-generating capabilities, leading to a sharp crash of the technology sector in 2000. Parallel to Nvidia's market turbulence, the private AI sector is undergoing another wave of capital consolidation. OpenAI, the creator of ChatGPT, secured new funding from the Thrive Capital fund. This investment comes at a crucial moment as the company moves towards a potential IPO. Financial support for OpenAI contrasts with the overall uncertainty in public markets, where the prospect of the US Federal Reserve maintaining high interest rates is cooling enthusiasm for risky assets. Investors are awaiting the inflation reading with growing tension, which is crucial for the cost of capital across the entire ICT sector. 328 mln USD — was Nvidia's average daily net profit in fiscal year 2026 Events in the US are impacting the condition of the Polish technology market, where we are seeing significant revival. The company Asbis reported dynamic growth in the Polish market's share within its structures, indicating increasing absorption of modern technologies in Central Europe. Despite global consolidation at peaks, the Warsaw WIG20 index shows relative resilience, though it remains influenced by sentiment from Wall Street. Industry representatives warn, however, of possible supply chain disruptions, which could affect the availability of advanced computing devices in the coming months. „We are at the beginning of a new industrial revolution where data centers are becoming AI factories.” — CEO of Nvidia, a key figure in the global semiconductor and artificial intelligence sector.

Perspektywy mediów: Liberal media emphasize the power of AI innovation and further rounds of OpenAI funding as proof of the durability of the technological revolution. Conservative media warn of the formation of a new speculative bubble and the negative impact of high valuations on market stability.