The stock market’s early rally fizzled by the afternoon, with the S&P 500 swinging from a nearly 2% gain to a slight selloff by midday. Nvidia, which initially jumped after reporting strong earnings, reversed 1% into the red along with the rest of the megacap AI trade.

Stocks rallied in early trading on Thursday, just hours after blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report.The Dow Jones Industrial Average jumped nearly 600 points,

Nvidia’s sales of the computing chips powering the artificial intelligence craze surged beyond the lofty bar set by stock market analysts in a performance that may ease recent jitters about a Big Tech boom turning into a bust that topples the world’s most valuable company.

Michael Burry of "The Big Short" fame once again went after Nvidia over its chips' longevity, its stock dilution, and "give-and-take deals" in AI.

Nvidia shares were initially up after an earnings report that included raised revenue guidance for the next quarter. But shares closed 3% lower.

The CEO of an Alabama AI infrastructure company has been accused of selling Nvidia GPUs for illegal exports.

The chip maker reported record revenue, beating Wall Street estimates and increasing current-quarter guidance.

Prosecutors have accused Brian Raymond, founder of AI infrastructure and consulting company Bitworks, and three others of selling coveted Nvidia chips to unspecified Chinese companies.

Nvidia bear Jay Goldberg said Nvidia opted to take analyst questions on the earnings call that ended up having "a generally bullish tone." He didn't get to ask one. But there were a few topics he would have addressed with management had he gotten the chance on the public call.

Chip giant Nvidia beat Wall Street's expectations for revenue and upcoming sales, easing fears about AI spending that have jolted the stock market in recent days.