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.

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.

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.

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.

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

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.

Nvidia's earnings report sparked some positive momentum for its stock on Thursday morning, sending it up as much as 5.1%, and bringing other technology stocks and the broader market up with it. By the afternoon,