Since briefly becoming the world's most valuable company last week, Nvidia has dropped for three consecutive trading days and is now down 13% from its peak.
Nvidia's decline brought with it a slide in chipmakers and other tech companies that have been tied to the artificial intelligence boom.
Super Micro Computer , which sells servers packed with Nvidia's AI chips, slid 8.7 percent, and Dell , which competes in that market, fell 5.2%.
Last week, it topped Apple and Microsoft as the most valuable U.S. company with a market capitalization over $3 trillion before giving up some of those gains.
Later this year, Nvidia will start shipping its next-generation AI chips, called Blackwell, that some analysts say could kick off another cycle with significant growth for the chipmaker and its partners.
Persons:
it's, Stephanie Link, Blackwell, Ray Wang
Organizations:
Nvidia, Micro Computer, Dell, Qualcomm, Broadcom, Apple, Microsoft, CNBC, Google, Oracle, Meta, Constellation Research
Locations:
U.S