CNBC | Friday, November 21, 2025 
Tech stocks set for big losing week as AI names get rocked after Nvidia earnings

Even Nvidia CEO Jensen Huang couldn’t save the tech and artificial intelligence trade this week. The chip giant’s talismanic leader trumpeted “off the charts” chip sales and dismissed talk of an “AI bubble,” and for a while, the tide lifted all boats. “There’s been a lot of talk about an AI bubble,” Huang said during an earnings call this week. “From our vantage point, we see something very different.” The buzz from the blowout report quickly reversed, sending the AI winners deeply into the red — and few beneficiaries were left unscathed. Every member of the Magnificent 7, except for Alphabet, was tracking for a losing week, with Nvidia, Amazon and Microsoft staring down the biggest losses. Amazon and Microsoft have led the group’s drop lower, falling about 6% this week. Meanwhile, Alphabet has gained nearly 8%. The search giant is also the only megacap of the group on pace for November gains thanks to a boost from the launch of Gemini 3. Oracle , which is another major Nvidia customer, slumped about 10%. The chipmaker also supplies major model developers such as OpenAI and Anthropic. Chip stocks have also declined amid the broader tech market turmoil. Advanced Micro Devices and Micron were on pace for 17% losses. Marvell Technology has slumped about 10%. Quantum computing stocks Rigetti, IonQ and D-Wave have dropped at least 10% CoreWeave, which buys and rents out Nvidia’s chips in data centers, initially soared on...Read more