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.

The leading chipmaker slumped 5% on Monday, building on last week's losses as heavy selling continued across the tech sector.

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.

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

Marvell Technology's shares closed down 19.8%, marking their worst day in more than two decades and weighing on rival chipmakers' stocks on Thursday, after an in-line revenue forecast gave investors another reason to be jittery about spending on AI infrastructure as a years-long rally shows signs of cooling.

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.

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%.

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.