As the company selling the shovels for the goldrush, Nvidia should be making money hand over fist. But instead, it wiped a massive $279 billion off its value on Tuesday, a precipitous drop of 9.5 percent in share price.
Investors in AI are becoming wary of major investments in largely unproven tech that's still far from turning a profit, causing skepticism to grow.
Analysts without a deep faith in AI's long term value have repeatedly warned that all of that spending may not amount to much of a return in the end.
Nvidia's stumbling shares have had tremendous knock-on effects, with shares of other related companies dropping as well.
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