Nvidia experienced an unprecedented market value loss of $279 billion on September 3, 2024, marking the largest single-day decline for any U.S. company. The tech giant’s shares plummeted by 9.5%, driven by a broad market selloff as investor confidence in artificial intelligence began to falter.
This significant drop not only affected Nvidia but also triggered a wider downturn in the tech sector, with the PHLX chip index experiencing its steepest decline since 2020. The sharp fall reflects growing concerns among investors about the immediate returns on AI investments, signaling a shift in market sentiment.
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Nvidia’s record-breaking loss underscores the volatility in the tech industry and the uncertainty surrounding the future of AI-driven growth. As skepticism rises, the company’s ability to meet high expectations is now under intense scrutiny.
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