Nvidia shares – the giant designer of chips and semiconductors – attempted to recover from the heavy losses incurred yesterday during pre-market trading on Tuesday, after Nvidia suffered the largest loss in its history in market value, amounting to $593 billion in a single day; this led to a decline in the shares of the seven giants (MAG 7).
Nvidia shares experienced significant selling pressures in yesterday's trading as panic in the markets escalated and doubts arose about American dominance in artificial intelligence technologies; this came after the Chinese company DeepSec showcased a new version (R1) that serves as a better and cheaper competitor compared to American chatbots including Gemini, ChatGPT, and Meta AI.
During pre-market trading today, Nvidia's shares (NasdaqGS: NVDA) rose by about 2.31%, trading near the level of $121.16.
