Nvidia's shares nosedive to wipe $430 billion off its value

Nvidia has lost its position as the world’s most valuable listed company after its stock experienced a significant plunge of almost 13% in the past week. The US chipmaker’s market capitalization, which briefly exceeded Microsoft’s, dropped by $430 billion, bringing its current worth to $2.91 trillion. Nvidia now sits in third place globally, behind Microsoft and Apple, which have market caps of $3.33 trillion and $3.19 trillion, respectively. The recent decline in Nvidia’s stock suggests a cooling off of investors’ excitement over the company’s anticipated role in the artificial intelligence revolution.