Nvidia share price declined more than 6% on Tuesday, marking the biggest single-day fall in four months, a day after shares closed at a record high. Nvidia share price plunged 6.22% to close at $140.14.
Nvidia stock price had more than tripled in the past 12 months before the fall on Tuesday. The shares of artificial intelligence (AI) chipmaker hit a record high of $153.13 on Monday.
Nvidia’s Chief Executive Officer, Jensen Huang, commenced CES 2025 with the unveiling of a diverse range of products. While the announcements highlighted the company’s promising long-term prospects, they fell short of delivering the near-term growth catalysts that some investors had anticipated.
CES 2025 Announcements
Huang kicked off the CES trade show on Monday and presented the new lineup, offering a vision for how AI will spread throughout the economy. The company wants its products to be the heart of a future tech world with a billion humanoid robots, 10 million automated factories, and 1.5 billion self-driving cars and trucks, Bloomberg reported.
The CEO showcased the company’s latest products and strategic initiatives, including collaborations with Toyota Motor Corp. and MediaTek Inc. The tech giant unveiled its GeForce RTX 50 Series desktop and laptop GPUs, powered by the advanced Blackwell artificial intelligence chip.
Additionally, Nvidia introduced a new suite of AI models, branded as ‘Cosmos’, and announced Project DIGITS — a $3,000 desktop computer designed for developers and generative AI enthusiasts.
The company is also partnering with Uber Technologies Inc. to advance self-driving technology, leveraging Uber’s vast daily trip data to train AI models more effectively.
Nvidia selected MediaTek to co-develop the primary chip for Project DIGITS, citing MediaTek’s expertise in low-power semiconductor design. Furthermore, MediaTek will offer products featuring this technology to other customers, expanding its reach, Huang said.
(With inputs from Bloomberg)