Given that harsh reality, it isn't surprising that gamers are putting off big-ticket purchases, which include upgrading to the latest and greatest graphic processing units (GPU) from Nvidia (NASDAQ: NVDA). Until recently, the gaming segment has historically represented roughly half of Nvidia's sales. Since the beginning of this year, however, it has taken a back seat to the data center business, which represents sales of semiconductors and other gear used for cloud computing, artificial intelligence (AI), and data centers. Read More...
Motley Fool
Why Upstart, SoFi, and Affirm Plummeted Today
Shares of fintech stocks Upstart (NASDAQ: UPST), SoFi Technologies (NASDAQ: SOFI), and Affirm Holdings (NASDAQ: AFRM) were plummeting today, down 8.5%, 5.1%, and 11.9%, respectively, as of 12:53 p.m. ET. There wasn’t much company-specific news today, but as always, these fintech names are extremely sensitive to the market’s outlook for interest rates and the potential for a recession next year. On those fronts, today’s better-than-expected retail sales data could actually be interpreted as a negative, as that data point seemed to contradict recent softer inflation reports.
