Nvidia Enters Correction Territory as Slump Erases $430 Billion
- The stock has dropped 13% over the past three trading days
- Stock remains up sharply in 2024, fueled by AI chip demand
A Nvidia HGX H100 server at a data center in Navi Mumbai, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Nvidia Corp. shares entered correction territory on Monday, as an ongoing selloff erased a historic amount of value for the AI-focused chipmaker.
The stock fell 6.7%, its third straight negative session and biggest one-day percentage drop since April. The three-day drop erased about $430 billion from Nvidia’s market capitalization, the biggest three-day value loss for any company in history, according to data compiled by Bloomberg.