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AI chip leader Nvidia announces $74.5 billion profit, $102 billion buyback – so why did its shares slide?

May 21, 2026
Source: straitstimes.com straitstimes.com
News Snapshot:
San Francisco – Nvidia, the world’s most valuable company, delivered another huge quarterly profit and a sales outlook that topped analyst estimates. It even announced a US$80 billion (S$102 billion) share buyback programme, but all this drew a lukewarm reaction from investors who sent its shares down.The AI chipmaker’s first-quarter profit hit US$58.3 billion (S$74.5 billion), up 211 per cent from a year ago and topping analyst expectations. Just three years ago, its quarterly profit was US$2 billion – about a 30th of what it is today.Sales in the current second quarter will be US$91 billion, compared with analyst average...
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