Nvidia (NVDA)

Nvidia (NVDA) stock fell as much as 5.7% on Thursday, leading other chipmakers lower as fears over AI demand continued to weigh on the sector.

The drop puts Nvidia shares down more than 17.6% year to date, with the AI chipmaking giant seeing its worst monthly performance in February since July 2022.

The drop came as the tech-heavy Nasdaq (^IXIC) entered correction territory, while uncertainty over president Donald Trump's next moves on tariffs rocks markets.

Previously the darling of the US stock market, Nvidia (NVDA) shares have dropped below the key 50-day, 100-day, and 200-day moving averages as sentiment on chipmakers sours.

Broadcom (AVGO)

US chipmaker Broadcom (AVGO) stock defied a broader market rout, jumping more than 10% in premarket trade on Friday as it set out a confident outlook for the coming year in a company statement.

"This was in stark contrast to rival Marvell Technology (MRVL), which reported disappointing earnings on Wednesday, and to how Nvidia’s (NVDA) recent numbers were received," said Russ Mould, investment director at AJ Bell.

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“Its latest statement suggests Broadcom (AVGO) is taking the battle more strongly to Nvidia (NVDA), having been left in the latter’s shadow over the last couple of years."

The company said it benefitted from strong demand for its specialist chips, which are co-designed with customers. It has also diversified across software and physical semiconductors.

"The AI story has largely been about the infrastructure but that could shift over time – with Broadcom (AVGO) pushing into areas like the tech which connects chips within a data centre," added Mould.

Schroders (SDR.L)

Asset manager Schroders (SDR.L) retraced gains made on Thursday to come in as the top faller in the FTSE 100 (^FTSE) on Friday.

The gains came after company said it will cut £150m in costs over the next three years, as it updates its strategy.

In its update it added that clients had taken £4.7bn from its coffers last year, versus £1bn in inflows in 2023.

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The cuts are equivalent to 8% of Schroders (SDR.L) operating costs. Meanwhile, its operating profit, which came in at £640.5m beat analyst forecasts.

New Schroders (SDR.L) CEO Richard Oldfield spearheading this strategy. Oldfield told the Financial Times on Friday that company leadership wants to "bring business back to profitable growth . . . a lot of it is around focusing our business, simplifying it and scaling our infrastructure."