Published: February 15, 2024 at 6:42 PM ET
Shares of the technology company weakened, falling 2.4% after Cisco Systems announced Wednesday a restructuring plan that includes 5% job cuts along with lower quarterly and fiscal year outlooks.
Nvidia's stock rally showed signs of fatigue, with shares down 1.7%. The stock rose ahead of its Feb. 21 earnings report, joining other semiconductor stocks on optimism about demand for semiconductors that power artificial intelligence and other advanced technologies.
Nvidia…
Shares of the technology company weakened, falling 2.4% after Cisco Systems announced Wednesday a restructuring plan that includes 5% job cuts along with lower quarterly and fiscal year outlooks.
Nvidia's stock rally showed signs of fatigue, with shares down 1.7%. The stock rose ahead of its Feb. 21 earnings report, joining other semiconductor stocks on optimism about demand for semiconductors that power artificial intelligence and other advanced technologies.
Nvidia has made its own bets on developing AI. Nvidia owned about 1.7 million shares of voice-based technology company SoundHound AI at the end of December, worth about $3.7 million at the time, according to a filing late Wednesday. Soundhound stock rose 67%.
Cognex stock rose 6.5% after the tech company reported fourth-quarter revenue and adjusted profit that beat analysts' expectations.
Email Mary de Wet at mary.dewet@dowjones.com.
