NVIDIA shares fell by 9.5% on Tuesday, September 3, 2024. This was the largest one-day drop in the market value of an American company in history. This was reported by Reuters.

As a result, NVIDIA lost $279 billion in market capitalization. This is called the main evidence that investors are becoming more cautious about new artificial intelligence technologies.

Concerns about AI arose after NVIDIA recently released its quarterly forecast. It did not meet the high expectations of investors, which contributed to the dizzying growth of the company’s shares.

According to LSEG, the loss of NVIDIA’s market value was greater than the $232 billion drop experienced by Meta Platforms on February 3, 2022, when the social network published a gloomy forecast.

It has recently become known that NVIDIA earned a net profit of $16.6 billion in the second quarter of fiscal year 2025. The result was more than two times higher than last year.

NVIDIA’s revenue increased by 122% to $30.04 billion in the period under review. In the third quarter, NVIDIA expects to generate revenue of $32.5 billion plus or minus 2%.