NVIDIA drops 10% in just three days after becoming world's most valuable company

NVIDIA became the world's most valuable company last week, and now the company's share price has entered into a decline by dropping 13% in just three days.

1 minute & 11 seconds read time

It was only a few weeks ago that NVIDIA passed Apple in being the most valuable publicly traded company, and then a week later, NVIDIA received a staggering $3.3 trillion market valuation, making it the most-valuable publicly traded company in the world.

NVIDIA drops 10% in just three days after becoming world's most valuable company 5616556

After reaching the top of the company valuation food chain, the green team decided to dilute its shares, bringing its price per share down to $150. However, as the market opened on Monday, NVIDIA's share price took a downward turn, dropping to $118.11 per share and marking the third consecutive day of reducing prices.

Since its peak, NVIDIA's share price has dropped 13%, which is also being felt across many other technology companies that are involved in the mass development of AI-powered products and services. For example, Super Micro Computer, which sells servers outfitted with NVIDIA's AI GPUs, dropped 8.7%, and Dell, which also competes in the same market, fell 5.2%. Furthermore, chip designer Arm dropped 5.8%, and semiconductor giants Qualcomm and Broadcom fell 5.5 and 3.7%, respectively.

The NVIDIA party may not be over, though, as the green team prepares to launch its next-generation AI GPUs under "Blackwell" naming. These fresh GPUs are expected to be the most powerful AI GPUs on the market and will undoubtedly be purchased by large tech companies interested in training various AI models. Elon Musk has already expressed interest in purchasing $9 billion worth of Blackwell GPUs when they release to train xAI's Grok.

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NEWS SOURCE:cnbc.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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