Nvidia shares fall 3 days in a row, more than 13% from all-time high.
Nvidia shares are down 3 days in a row, more than 13% from an all-time high after briefly becoming the world's most valuable company. As a result, stocks of chipmakers and other technology companies also fell.
June 24, 2567 CNBC reports that since Nvidia briefly became the world's most valuable company last week, Nvidia shares have fallen for three straight trading days. And it is now down 3% from its peak.
The drop in Nvidia shares in trading on June 24, 2567, was the chipmaker's second-biggest fall of 2, as the share price fell 2567% to $6.7. Nvidia has resulted in the decline of chipmakers and other technology companies linked to the growth of artificial intelligence.
Super Micro Computer, which sells servers stuffed with Nvidia's AI chips, was down 8.7%, Dell was down 5.2%, while chip designer Arm was down 5.8%, while semiconductor giants Qualcomm and Broadcom were down 5.5. % and 3.7% respectively
Many of these companies have been some of the biggest gainers of the past few years, as investors heavily predict they will be the main beneficiaries of the AI spending wave.
Nvidia's value has nearly tripled in the past year. Despite a three-day slump, last week it overtook Apple and Microsoft as the most valuable U.S. company with a market cap of more than $3 trillion before giving up some of its gains. Nvidia was the biggest decliner on the S&P index. 3 on June 3, 500. Super Micro increased by almost 24% in 2567.
Nvidia says demand for its valuable AI graphics processing units (GPUs) remains high. This is because companies like Microsoft, Google, Amazon, Oracle and Meta buy billions of dollars worth of chips to power their data centers and cloud services.
Later this year, Nvidia will begin shipping its next-generation AI chip, called Blackwell, which some analysts expect will start another important growth cycle for the chipmaker and its partners.
Reference: cnbc.com
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