Nvidia shares fell about 2.8% in Friday premarket trading as major semiconductor stocks declined. Intel led the selloff with a 25.9% drop after releasing earnings and guidance following Thursday's market close. Advanced Micro Devices shares lost 8.04%. Broadcom shares declined 3.92%.
Intel earned 52 cents per share in the third quarter, exceeding the consensus forecast of 40 cents. Intel generated $16.51 billion in revenue, above the consensus forecast of $16.47 billion. However, Intel's fourth-quarter outlook drove the stock's decline. Intel forecast adjusted earnings of 25 cents per share, below the consensus estimate of 43 cents. Intel projected revenue between $15 billion and $16 billion, compared with the consensus estimate of $17.05 billion.
Intel CEO Lip-Bu Tan said demand for Intel's CPUs remains strong despite near-term difficulties across the PC industry. Tan said Intel's immediate priority is to increase supply to satisfy extraordinary demand for the Xeon family.
Nvidia produces AI accelerators, a business distinct from Intel's PC and server processors. Intel's decline affects Nvidia partly through investor sentiment and partly through Nvidia's exposure to Intel. A sharp fall in a major semiconductor stock pushes the sector lower as investors reduce holdings in stocks that have risen. Intel's warning about difficulties in the PC industry adds to investor questions.
Nvidia holds about 214.8 million Intel shares, purchased for $5 billion at $23.28 per share through a transaction completed in December. Nvidia and Intel are developing x86 RTX chips for PCs and custom x86 CPUs for data centers. Nvidia's filing valued the Intel stake at about $30.0 billion on June 30. The stake would be worth about $16.5 billion at Intel's extended-trading price of $76.85. However, Tan's description of extraordinary server CPU demand is consistent with strong spending on AI infrastructure.
Nvidia is expected to release fiscal third-quarter results after trading ends on November 17. Analysts forecast earnings of $2.48 per share. Analysts project revenue of $109.17 billion. Nvidia's revenue guidance for the quarter was about $108 billion.
Nvidia's second-quarter revenue reached $96.22 billion, an increase of 106% from a year earlier. Second-quarter revenue exceeded the consensus estimate of $92.18 billion. Nvidia's data center revenue reached $89.0 billion, a 117% increase. Nvidia posted non-GAAP earnings of $2.22 per share, above the consensus estimate of $2.10.
Benzinga Pro data showed Nvidia trading at $207.49, down 2.89%, at publication.
Nvidia Shares Drop 2.8% Amid Semiconductor Sector Selloff
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Summary
Nvidia shares dropped 2.8% in premarket trading on October 30, 2026, as the fear and greed index turned bearish and trading volume surged in the semiconductor sector. Intel led the decline, falling 25.9% after missing earnings and guidance. Nvidia’s stake in Intel, valued at $30 billion in June, is now worth about $16.5 billion. Analysts forecast Q3 earnings of $2.48 per share and revenue of $109.17 billion for Nvidia.
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