Nvidia stock suffers biggest one-day decline in 4 months after its stellar rally to a $1 trillion valuation
Shares in Nvidia suffered their biggest one-day fall in four months on Wednesday, just a day after the companyThe chipmaker closed 5.7% lower, on Wednesday, marking the biggest daily drop this year since the end of January, according toHowever, Nvidia is still up almost 160% this year, eclipsing the entire S&P 500 and contributed to the index's near-9% boost.
Meanwhile, AI software company C3.ai fell 9% on Wednesday after posting a disappointing sales outlook, according to Bloomberg. Nevertheless, it's risen by almost 260% this year. While the mania surrounding advancements and capabilities of AI tools has boosted certain stocks, some investors are concerned they're now overpriced.
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