New York, Feb 13, 2026, 10:10 ET — Regular session
- Nvidia slipped at the open, with investors showing some hesitation around the megacap tech names.
- U.S. inflation came in cooler, steadying bets on rate cuts—yet chip stocks split off in different directions.
- Nvidia’s upcoming results are in focus for traders, who are also tracking for any changes in U.S. chip export scrutiny.
Nvidia traded down 1.8% at $183.59 early Friday, slipping from Thursday’s $186.94 close. Shares have swung between $182.31 and $188.30 during the session.
These moves carry weight: Nvidia’s turned into a kind of stand-in for AI hardware demand across the market. Tech sentiment isn’t exactly stable right now, so investors are looking to the upcoming guidance to see if these AI giants still deserve their lofty valuations.
The Nasdaq tumbled 2% on Thursday, notching its steepest single-day loss in three weeks, as fresh anxiety over tech profit margins and AI-related shakeups crept back in. “Markets have had a healthy correction, they’ve skimmed some of the froth,” said Arun Sai, senior multi-asset strategist at Pictet Asset Management. 1
Friday brought a bit of breathing room after U.S. inflation numbers came in softer than expected. The Consumer Price Index increased 0.2% in January, the Labor Department said—less than the 0.3% forecast. Year-over-year, CPI was up 2.4%. Stripping out food and energy, core CPI posted a 0.3% monthly gain, up 2.5% from a year ago. 2
U.S. stocks were flat at the open, with the S&P 500 hovering and the Nasdaq slipping. Investors weighing softer inflation numbers against the prospect that the tech pullback hasn’t fully played out. 3
Applied Materials surged 11.5%, after the chip equipment giant projected second-quarter revenue and earnings ahead of Wall Street’s targets—AI capex spending staying front and center. “Fueled by the acceleration of industry investments in AI computing,” CEO Gary Dickerson summed up the quarter. Citing SEMI, Reuters noted that wafer-fab equipment sales are expected to climb roughly 9% in 2026. 4
AMD picked up 0.6%, Intel matched that move. Broadcom hovered, barely budging. Taiwan Semiconductor Manufacturing eased down roughly 0.7%.
Policy uncertainty hasn’t gone away. This week in Washington, Representative Ro Khanna voiced support for allowing sales of Nvidia’s older Hopper chips to China, but drew a hard line: “We certainly shouldn’t be sending them Rubins. We shouldn’t be sending them Blackwells.” Hopper refers to Nvidia’s previous generation of AI chips. Blackwell is the current lineup; Rubin is expected later this year. 5
Nvidia’s graphics chips and supporting software have turned into core tools for training and operating AI models inside data centers. The shares usually move with shifts in outlook for large cloud players’ data-center budgets and how quickly new chips hit the market.
It goes both directions. Miss on guidance, or see new export licence restrictions, and expectations can take a hit fast. Large customers also juggle order schedules, sometimes pushing back as they clear out past shipments.
Next up: Nvidia drops its Q4 and full-year numbers on Feb. 25, with a conference call set for 2 p.m. PT (5 p.m. ET). The company says CFO Colette Kress will share written remarks a bit ahead of the call. 6
