The California chipmaker has lost more than 20% of its value in the past six weeks.
Shares of US semiconductor maker Nvidia fell 7% amid a massive sell-off in chipmaker shares following the release of financial reports from major technology companies this week. This was reported by the Financial Times on Wednesday, July 31.
Nvidia, a dominant supplier of powerful processors needed to build artificial intelligence systems, has lost more than 20% of its value in the past six weeks, wiping nearly $750 billion off its market capitalization.
Shares of Arm, a semiconductor developer that has also benefited greatly from investor enthusiasm for artificial intelligence stocks, closed 6% lower.
Despite this, the shares of both Nvidia and Arm remain more than twice as expensive as last year, driven by a wave of capital investment from companies such as Microsoft, Google, Amazon and Meta, which investing in the development of technology infrastructure for artificial intelligence.
We remind you that in June Nvidia surpassed Microsoft and Apple and became the most valuable company in the world. Nvidia is considered the biggest beneficiary of artificial intelligence technologies.
Source: korrespondent
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