Nvidia shares fall after investors spooked by slowing growth

Shares in the chip designer Nvidia have fallen after investors were spooked by signs of slowing growth and production issues, despite the artificial intelligence company posting a 122% rise in second-quarter revenues compared with the same period last year. The Silicon Valley company's revenues for the period more than doubled to 30bn ( 23bn), beating average analyst estimates of 28.7bn. However, investors were concerned about signs of a slowdown in growth, in particular around its next-generation AI chips, code-named Blackwell. The stock fell as much as 7% in pre-market trading, before paring back losses to a 3% fall. The chipmaker is the third most valuable company in the world, with a market value of 3.1tn.