Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

Intel gained 0.5%. CEO Lip-Bu Tan downplayed rumors that a recent hire from Taiwan Semiconductor Manufacturing had taken company data from the Taiwanese chip manufacturer. Local media reported this week that Taiwanese officials were investigating Wei-Jen Lo, who joined Intel in October. U.S.-listed shares of TSMC were down 1.3%.

Over the last 10 years, Nvidia stock has risen by roughly 24,000%. A $10 million investment, therefore, would now be worth around $2.4 billion. Even a smaller investment of $1,000 would now be valued at more than $240,000.

Gap’s Old Navy brand continues to draw value-focused shoppers, while its namesake brand attracts more high-income and Gen Z consumers, Chief Executive Richard Dickson said. The retailer also said it has sold more of its items at full price, which it expects to drive further growth during the holiday shopping season.

The S&P 500 Index slid anew, wiping out earlier gains as the relief rally following AI darling Nvidia Corp.’s surprisingly strong earnings report proved short-lived.

Wall Street analysts are forecasting substantial upside in Meta Platforms, MercadoLibre, and Circle Internet Group.

Technology stocks in Asia rallied after Nvidia’s record sales and strong guidance soothed investor concerns about an AI bubble.

Nvidia’s third-quarter earnings beat initially alleviated AI-bubble fears, but tech stocks slipped as markets digested economic data.