Nvidia stock was sliding on Thursday as a business partner’s weak outlook took some of the shine off President Trump’s artificial intelligence announcements.The shares were down 1.2% to $145.24 in early trading.

SK Hynix Inc.’s shares slid after record quarterly results failed to impress investors grappling with stagnant smartphone demand and questions about AI spending in 2025.

South Korea's SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of advanced chips such as high-bandwidth memory (HBM) used in generative artificial intelligence chipsets.

With its AI capabilities enabled, the RTX 5090 is the fastest and best-performing graphics card in the world. Can Nvidia's competitors catch up?

The past few years have been undeniably profitable for Nvidia ( NVDA 4.43%) investors. The stock price has surged more than sevenfold over the past two years, and today, it topped the charts as the world's most valuable company in terms of market cap. The stock was up as much as 4.7% Wednesday morning. At 12:32 p.m. ET, the stock was still up 4.1%.

Nvidia is once again the most valuable U.S. company, outranking Apple for the first time since late November. A rise in the chip maker's stock meant it ended Tuesday with a market capitalization of $3.