Nvidia earnings scare away AMD, Intel investors as legacy chipmakers lose ground in AI

Developers in the world of artificial intelligence can’t get enough of Nvidia’s processors. Demand is so strong that the company said late Wednesday that revenue in the current quarter will jump 170% to roughly $16 billion.

Nvidia shares rose more than 2% on Thursday and headed for a record close, even as the broader market had a rough day.

There’s a flipside to the story. AMD, Nvidia’s main rival in the market for…