NEW YORK, June 3, 2026, 18:02 (EDT)
Nvidia shares fell 3.6% to close at $214.75 on Wednesday. The drop followed a rally tied to Computex, with investors taking profits as major U.S. indexes slipped. At the close, Nvidia’s market cap stood at about $5.24 trillion.
Nvidia remains the market’s main AI play, so any slip in its shares stands out. The latest dip comes in spite of new product details and positive supply talk from CEO Jensen Huang. The drop is putting to the test just how much investors are still willing to chase every new round of AI spending.
Nvidia shares fell 3.62% Wednesday after sliding 0.69% Tuesday, pulling back from a 6.26% jump Monday right after its Computex announcements, daily trading data show.
Nvidia didn’t get much support from the rest of the market. The Nasdaq Composite dropped 0.89%, S&P 500 slipped 0.74%, and the Dow finished down 1.21%. Reuters said higher oil and renewed Middle East tensions led investors to take some profits. Chip stocks, though, added 1.4%. Intel and Qualcomm rose, breaking from the broader trend. “The AI names are trading on their own completely separate world,” Ross Mayfield, investment strategy analyst at Baird, told Reuters. Reuters
Nvidia CEO Jensen Huang spoke this week in Taipei about supply. Huang said Nvidia has “secured supply for very robust growth” in both CPUs and GPUs, with CPUs handling general tasks and GPUs powering parallel math for AI. “We have supply for very, very robust growth, but we’re still supply constrained,” Huang said. Reuters
Nvidia’s stock faces a balancing act. Investors look for the company to keep delivering GPUs for the big data-center push that powers AI models, and also to show its CPUs and PCs might turn into more than a niche business.
Nvidia’s next big move is RTX Spark, a new chip for laptops and desktops that the company says will run AI jobs locally, instead of offloading everything to the cloud. Nvidia developed the chip with MediaTek, and Reuters said PCs from Dell, HP, Lenovo, ASUS, Microsoft Surface and MSI will get it this fall. With Spark, Nvidia is moving further into the same space as AMD, Intel and Qualcomm. Neil Shah, co-founder of Counterpoint Research, said RTX Spark has the potential to change the “traditional app-centric PC” into more of an agentic AI computer, a device that handles tasks with less need for user prompts. Reuters
Nvidia and Microsoft are pitching the release as an effort to put AI agents at the center of Windows PCs. Nvidia said its RTX Spark uses a Blackwell RTX GPU and a 20-core Grace CPU. The platform is built to run local AI agents, big AI models, creative tasks and games on laptops or small desktops.
Nvidia had new ecosystem news, but shares still fell. The company said TSMC is now using Nvidia accelerated computing and AI in chip design and manufacturing, covering lithography, process simulation, factory scheduling and defect inspection. TSMC CEO C.C. Wei said this helps the foundry’s manufacturing and technology position.
There’s a clear risk on the table. Supply issues might drag on, and AI PC sales could stay choppy. Even if Nvidia keeps posting growth, a big market pullback could still drag valuations lower. Bill Northey, senior investment director at U.S. Bank Wealth Management, called it a “tug of war” in markets, with strong U.S. numbers on one side and worries over how long the Middle East conflict and energy costs will last on the other. Reuters
Nvidia faces a test after Wednesday’s slide. Investors have to decide if this was a normal round of profit-taking or a sign the rally moved ahead of the evidence. The big question isn’t about AI demand anymore. It’s how much of it Nvidia can turn into shipments, margins, and business outside the data center.
