Nvidia stock reversed course Thursday after rallying earlier this week on the back of President Trump’s announcements on artificial intelligence. Investors had been worried about a slow rollout of the company’s advanced Blackwell chips but a flagship $500 billion AI plan is soothing those fears.

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.

Shares of Micron (NASDAQ:MU) are down about 3.5% on the day. About This Article  Shares of Micron are down about $4.50 on the day thanks to Nvidia supplier, SK Hynix. Granted, SK Hynix did post a record quarterly profit.

SK Hynix still finds strong demand for AI-related chips even with uncertainty ahead. However, experts caution that artificial intelligence expansion may slow down in 2025, hence lowering the difference between consumer-oriented and AI-oriented semiconductors.

SK hynix Inc. reported financial results for 2024, with revenues surging 102% to 66.19 trillion won ($46.34 billion), driven by explosive demand for artificial intelligence memory products.

Chip stocks including Nvidia and Arm fell Thursday after an Nvidia supplier, SK Hynix, spoke about uncertainty in semiconductor demand in 2025 on its earnings call.

The company’s Q4 revenue increased by 12%, and its operating profit rose by 15%, making for its best quarter ever, SK Hynix said in a statement. The company also announced that its revenue for the year was 66.1930 trillion won (roughly $46.13 billion). SK Hynix raised its annual fixed dividend for shareholders by 25%.

Sales of AI memory solutions, including HBM3 and eSSDs, drove SK hynix's revenues and profits to record levels.

Shares of Micron Technology ( MU -3.93%) were slipping Thursday. The firm's stock is down 2.9% as of 1:25 p.m. ET, but lost as much as 5.4% earlier in the day. The move down comes as the S&P 500 ( ^GSPC 0.16%) gained 0.3% and the Nasdaq Composite ( ^IXIC -0.31%) fell 0.1%.

Arm stock jumped yesterday on the news about Stargate, a new AI infrastructure project targeting $100 billion to $500 billion in investment, as Softbank CEO Masayoshi Son was one of the three tech chiefs at the announcement, and Softbank, which owns about 90% of Arm, is in charge of financing the project.

Live Updates Make sure to refresh this page periodically for updates. Stocks on the Move Today 1:02 pm What stocks are seeing the biggest moves today? Stocks directly tied to the AI energy trade are red-hot today.