Nvidia Faces AI Slowdown Talk and Forecasts

Nvidia drew renewed market attention on 14 September 2026 after CNBC host Jim Cramer commented on the stock following remarks by Anthropic CEO Dario Amodei. Amodei joined other industry leaders over the weekend to call for a slowdown in artificial intelligence development. Cramer posted that Amodei's comments could send Nvidia shares down by four points before stabilizing, though he maintained that the shares remain a buy once they decline.

The comments come amid high demand for Nvidia AI processors. In March, CEO Jensen Huang noted that the company estimate of 3.6 million units of demand for its Blackwell graphics chips underrepresented actual needs. During its second-quarter report, the company stated that its total order backlog exceeded $2 trillion. Nvidia increased its quarterly revenue by 106% year over year to $96.22 billion, with the data center unit contributing $83.7 billion of that total.

Nvidia also faces supply limits tied to a historic global memory shortage. The company reported a second-quarter gross margin of 75%. Management projected gross margins to slip to 74% in the third quarter and to land between 71% and 72% in the fourth quarter. Analysts at Seaport Global cautioned that sold-out capacity could limit further upside surprises.

Institutional interest in the company expanded during the second quarter. Data from Insider Monkey showed 285 out of 1,006 hedge funds held Nvidia shares in the second quarter, up from 275 out of 1,022 funds in the first quarter. Notably, GQG Partners expanded its holding to $590 million. Nvidia trades at a forward price-to-earnings ratio of 24, compared with 33 for AMD and 55 for Intel.