AI Chipmaker Nvidia Shares Drop 10 Percent, Hitting Global Markets

Published on September 4, 2024

Shares of Nvidia, the leading AI chipmaker, dropped 10 percent, sparked by investor concerns over the U.S. economy and the future of artificial intelligence. This decline wiped $279 billion from the company’s market value, setting a record for the largest one-day loss by any company in U.S. stock market history. Nvidia is at the center of the massive artificial intelligence boom as the company engineers advanced chips, systems, and software for the AI factories of the future. As one of the world’s most valuable companies, Nvidia has a market capitalization of over $2 trillion. Despite the drop, the company’s shares remain up 141 percent so far this year....

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