Comment on Nvidia stock's correction has accelerated since Microsoft's CEO hinted the frenzied demand for AI chips may be waning

Nvidia stock's correction has accelerated since Microsoft's CEO hinted the frenzied demand for AI chips may be waning

Nvidia CEO Jensen Huang said companies will need more computational power to improve artificial intelligence.Mads Claus Rasmussen/Ritzau Scanpix/AFP via Getty ImagesNvidia stock is close to bear market territory after a 17% drop from its record high in November.The sell-off has intensified since recent comments from Microsoft's CEO suggested the chip craze is easing.Wedbush analyst Dan Ives sees Nvidia's decline as a temporary dip, with strong future AI prospects.Nvidia stock has entered correction territory and some key shifts in the artificial intelligence narrative may be pressuring shares as 2024 winds down.The chipmaker's stock has declined 17% since its record high of $152.89 on November 21.

 

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