Nvidia Slips 2.9%, Nuvacore Eyes $2.5B Value, Korea AI Trade Cools

Nvidia closed Thursday down 2.94% at $230.48, while a Sequoia-backed CPU startup is reportedly raising money at about a $2.5 billion valuation. Korean AI-linked stocks are meanwhile struggling for buyers, according to the sources below.

Key points

• Nvidia fell 2.94% on Thursday, October 8, to $230.48, following a report putting OpenAI’s annualized revenue near $50 billion.
• Nuvacore, backed by Sequoia, is raising funds at about a $2.5 billion valuation, tied to demand for CPUs in AI systems.
• Korean stocks are reported to be struggling for buyers as the AI chip trade cools.
• Ukrainian drones struck a Yandex data centre in Russia’s Kaluga region, partly putting it out of action.

Why are CPUs attracting venture money?

Nuvacore is seeking to raise funds as appetite for central processors has swollen, per the Economic Times report. The source says demand comes from the thirst for data-crunching capacity to power chatbots such as Anthropic’s Claude. It also describes CPUs as traffic controllers for Nvidia’s AI chips that run autonomous AI software known as agents.

The summary we have gives the valuation (about $2.5 billion) but not the round size, the terms, or the investors beyond Sequoia. Treat the figure as a reported target, not a closed deal. For investors, the notable point is where the money is looking: beyond GPUs to the supporting processors that agent workloads require.

Did chips drag Nvidia lower?

The FinanceFeeds item reports Nvidia’s 2.94% drop to $230.48 and links it to the OpenAI revenue figure of roughly $50 billion. It poses the question of whether chip stocks, rather than the wider Nasdaq, explain the lag. The summary does not supply the answer or index data, so we cannot say how much of the move was sector-specific. One day’s decline is also a thin basis for a trend call.

What is happening in Korea?

NDTV Profit’s headline says the once-hot AI trade has left Korean stocks struggling for buyers, with a summary pointing to AI chip concerns. Details beyond that were not available to us, including which names or how large the declines were. It fits a pattern of investors asking harder questions about AI-linked valuations, but the source material here is limited.

Other items on the radar

• Cadence India’s managing director Alok Jain said India needs a balanced semiconductor ecosystem, including local EDA tools, to become a major global player. It is a pitch from a vendor with a commercial interest.
• Yandex, which is heavily involved in Russia’s AI development, said its Kaluga data centre was struck by Ukrainian drones and partly put out of action. It is a reminder that AI infrastructure can become a physical target in conflict.
• Parallel Systems closed a $100 million Series C on October 7 for autonomous electric freight rail. It is autonomy-related, though only loosely connected to AI stocks.
• An Insider Monkey piece argues SpaceX benefits whichever hyperscaler first tests orbital TPUs. Our source excerpt is minimal, so we cannot verify the details.

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