New York, Feb 10, 2026, 16:01 EST — After-hours
- Nvidia shares dipped roughly 0.7% after Washington backed continued U.S. access to its AI chips but maintained strict export controls on China.
- Cisco introduced a fresh AI networking chip and router, intensifying the rivalry with Broadcom and Nvidia in the data-center networking arena.
- Traders have their eyes on the delayed U.S. jobs report set for Feb. 11 and Nvidia’s earnings due Feb. 25.
Nvidia (NVDA.O) shares dipped about 0.7% on Tuesday, closing at $188.68. This came after U.S. Commerce Secretary Howard Lutnick told senators the Trump administration won’t block American companies from purchasing Nvidia’s advanced AI processors. “We agree that demand by American firms is vast for these chips, and we don’t want to do anything that stands in their way,” Lutnick said during the Senate hearing. Reuters
The reassurance on domestic access came with a tougher stance on exports. Lutnick said Nvidia “must live with” strict licensing rules for selling the H200 chip—one of its leading data-center AI processors—to China, adding those rules were hammered out with the State Department. Reuters reported Nvidia hasn’t agreed to terms like a Know-Your-Customer requirement designed to keep the chips away from China’s military. Reuters
Cisco Systems (CSCO.O) stepped into the AI data center networking fray Tuesday, unveiling a fresh chip and router aimed at accelerating data flow in large AI facilities. The move puts Cisco head-to-head with Broadcom (AVGO.O) and Nvidia as these firms ramp up investments in AI infrastructure.
The chip sector dipped amid mixed market action. The iShares Semiconductor ETF (SOXX.O) dropped roughly 0.4%, and Advanced Micro Devices (AMD.O) slid around 1.3%.
Nvidia’s stock jumped 2.5% on Monday, leading gains in the S&P 500 as investors awaited key economic reports—the delayed January U.S. nonfarm payrolls data set for Feb. 11 and the January Consumer Price Index on Feb. 13.
Traders spent Tuesday digesting weaker economic cues while bracing for the jobs report. “Ahead of the jobs data, no one wants to stretch beyond their risk limits,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott. Reuters
Retail investors have stepped in to support parts of the tech sector following last week’s selloff. BlackRock’s iShares Expanded Tech-Software Sector ETF saw net inflows reach a record $176 million over the past month as of Monday’s close, per Vanda Research data. Amazon led the charge, posting its biggest single-day net retail buying since August 2024, surpassing Nvidia’s numbers.
That downside risk remains. Options markets reveal persistently high implied volatility—a measure of expected price swings—in software stocks, following a sharp decline driven by fears that rapid AI developments might disrupt conventional software business models. The software ETF’s 30-day implied volatility hovers near 41%.
Nvidia’s next big date is Feb. 25, when it releases its fourth-quarter and full-year fiscal 2026 results. The report is scheduled for around 1:20 p.m. PT, followed by a conference call. Investors will be keen on data-center demand figures and any news about how China licensing restrictions might impact shipments.
