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Nvidia shed nearly $330 billion in market capitalization in a single 24-hour stretch on June 10, according to TechRadar, as a broad selloff hammered semiconductor stocks. Nvidia's shares fell roughly 3.3% on the day, per TradingKey, while rivals Broadcom and AMD each dropped about 4%, according to Yahoo Finance.
The damage extended well beyond chips. According to Firstpost, the Nasdaq fell 2% and the Dow Jones Industrial Average lost 950 points as inflation concerns revived fears of higher interest rates and President Donald Trump threatened further action against Iran. The Motley Fool described the broader market mood as "risk-off," noting that Super Micro Computer and Micron also fell sharply.
Against that grim backdrop, Nvidia CEO Jensen Huang pushed back hard. According to Bloomberg, Huang shrugged off the rout, arguing that artificial intelligence is still only "beginning." Barron's reported that Huang went further, characterizing the chip selloff as actually "a good thing" — and Nvidia shares bounced following his public comments.
The selloff arrived after what MSN described as one of the sharpest pullbacks the AI chip trade has ever seen, with three sector leaders suddenly trading well below their recent highs — a signal some observers read as a potential entry point for investors.
The episode is a reminder of how much the AI investment narrative now rests on a handful of chip companies: when Nvidia loses $330 billion in a single day, it forces the entire market to reckon with whether the AI infrastructure boom is moving fast enough to justify sky-high valuations.