Nvidia designs most of the advanced chips that power artificial intelligence (AI), and that has made it an earnings machine, producing astonishing profits that have buoyed the entire stock market.
In the last year, Nvidia shares have returned nearly 150 per cent, helping to fuel the nearly 25 per cent gain in the S&P 500 stock index. Yet starting in late August, as the bedazzling aura surrounding Nvidia ebbed, the market stumbled.
