Nvidia stock dropped 3.15% despite strong Q3 earnings and a positive outlook for Q4. Revenue projected at $65 billion, exceeding Wall Street expectations. CEO Jensen Huang noted surging “Blackwell” sales and AI growth in various industries globally.

Q3 EPS was $1.30 on revenue of $57.01 billion, beating analyst estimates. Data center revenue was $51.2 billion, gaming revenue slightly below estimates. CFO Colette Kress highlighted strong demand for Blackwell architecture.

Nvidia’s market cap briefly surpassed $5 trillion. Hedge fund and SoftBank unloaded their stakes ahead of earnings. AMD CEO Lisa Su predicts the data center market could reach $1 trillion by 2030.

Despite gains in Nvidia and AMD stocks, investor Michael Burry criticized AI companies for potentially understating depreciation of data center equipment. Burry’s warning caused skepticism in the market.

Read more at Yahoo Finance: Nvidia stock slides after Q3 earnings, forecasts top estimates with sales for AI chips ‘off the charts’