Nvidia shares fall more than 10% from early May peak despite strong AI demand and market dominance in GPUs.
Nvidia (NASDAQ: NVDA) has declined over 10% from its all-time high in early May, underperforming the S&P 500, which has risen nearly 9% year-to-date. The chipmaker’s shares are up just 10% in 2026, barely outpacing the broader market despite its leadership in AI computing.
Nvidia remains the dominant supplier of graphics processing units (GPUs) for AI workloads, with its hardware widely adopted by major cloud providers. The company’s growth trajectory has historically made pullbacks of 10% or more attractive entry points for investors.
The stock’s recent dip contrasts with its strong performance in 2023-2025, when it was among the top-performing equities. Analysts note that Nvidia’s GPUs remain the industry benchmark for AI computing, supporting long-term demand.