May 30, 2024

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Nvidia (NVDA) stock is down 10% from its highs, in correction territory

Nvidia (NVDA) stock is down 10% from its highs, in correction territory

Nvidia founder and CEO Jensen Huang displays products on stage during the annual Nvidia GTC conference at SAP Center in San Jose, California, on March 18, 2024.

Josh Edelson | AFP | Getty Images

Chipmaker giant Nvidia has entered “correction territory,” with its shares now down 10% from its all-time closing high.

The company, which makes graphics processing units – or graphics processing units – has been a major beneficiary of the artificial intelligence boom, which has boosted demand for its chips.