Nvidia sets fresh sales record amid fears of an AI bubble and Trump's trade wars

Chipmaker Nvidia set a fresh sales record in the second quarter, surpassing Wall Street expectations for its artificial intelligence chips. But shares of the chip giant still dropped 2.3% in after hours trading, in a sign that investors' worries of an AI bubble and the repercussions of Donald Trump's trade wars are not quelled. Nvidia's financial report was the first test of investor appetite since last week's mass AI-stock selloff, when several tech stocks saw shares tumble last week amid growing questions over whether AI-driven companies are being overvalued. On Wednesday, Nvidia reported an adjusted earnings per share of 1.08 on 46.74bn in revenue, surpassing Wall Street's projection of 1.01 in earnings per share on 46.05bn in revenue, according to Fact Set data. But investors had high expectations for the company.