Nvidia's performance did not alleviate AI concerns, and US stocks opened lower

According to Jinshi reports, the U.S. stock market opened lower. Although Nvidia's performance exceeded expectations, it failed to alleviate investors' concerns about the disruptive risks posed by artificial intelligence and the sustainability of profit growth among large tech companies. Nvidia, which has the largest weight in the S&P 500 index, saw its stock price drop by over 3%. Craig Johnson, chief market technician at Piper Sandler, stated that investors must actively adjust their asset allocation to adapt to the constantly changing trends in market sectors. Meanwhile, as Nvidia increases its commitments in supply, prices of memory and storage stocks rose, with SanDisk's stock price increasing by 2%.