Several semicondutor stocks are volatile in Wednesday’s after-hours session after NVIDIA Corp NVDA reported financial results for the second quarter.

Here’s a look at some of the biggest movers in the chip space on Wednesday:

• Advanced Micro Devices Inc AMD. Closed down 2.75% at $146.36.

• Micron Technology Inc MU. Closed down 3.07% at $94.86.

• Super Micro Computer Inc SMCI. Closed down 19.02% at $443.49.

• Taiwan Semiconductor Manufacturing Company Ltd TSM. Closed down 0.79% at $169.20

• Intel Corp INTC. Closed down 2.29% at $19.61.

• Marvell Technology Inc MRVL. Closed down 1.82% at $68.44.

What Happened With NVDA: After the market closed on Wednesday, Nvidia reported second-quarter revenue of $30.04 billion, beating the consensus estimate of $28.684 billion. The leading AI chipmaker reported adjusted earnings of 68 cents per share, beating analyst estimates of 64 cents per share, per Benzinga Pro.

“Hopper demand remains strong, and the anticipation for Blackwell is incredible. NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI,” said Jensen Huang, founder and CEO of Nvidia.

Nvidia expects third-quarter revenue of $32.5 billion, plus or minus 2%, versus estimates of $31.77 billion. The company anticipates gross margins of 74.4% and adjusted gross margin of 75% in the third quarter.

The company’s board also approved an additional $50 billion in share repurchases. The additional buyback approval does not have an expiration date.

Don’t Miss: Nvidia Q2 Earnings, Guidance Top Street View As AI Fuels Record Data Center Revenue: Gross Margin Falls Quarter-Over-Quarter, Stock Falls

Why It Matters: Nvidia shares are sliding despite beating expectations, likely due to the remarkable run in shares over the past two years on the back of surging demand for the company’s AI chips.

Several other players in the semiconductor space have benefitted from the AI boom as well and often trade in sympathy with Nvidia.

Nvidia’s conference call, which is set to kick off at 5 p.m. E.T. could spark more volatility across the space after hours.

There are still some chip names that are yet to report results for the period.

Marvell Technology is due to report earnings results after the market close on Thursday and Micron recently scheduled its quarterly results for next month. Nvidia shares were down 5.56% after hours, trading at $118.62 at the time of publication Wednesday, per Benzinga Pro.

Read Next:

Photo: Shutterstock.