Strong Chip Sales Don't Silence Doubts on AI Returns

NVIDIA's first-quarter fiscal 2027 revenue hit $75.2 billion, up 92% year-over-year. Yet U.S. stocks fell June 26 as investors questioned whether hyperscalers can justify continued spending without proven returns. Chip demand is real; the uncertainty is whether AI infrastructure spending has another act. Cost relief from lower fuel prices proved insufficient to offset the concern.