Nvidia and AI Chipmakers Decline Amid Election Uncertainty and Demand Concerns
Nvidia (NVDA) shares fell 9.26% to close at $181.60, leading a broader sell-off in the semiconductor sector. The decline was driven by investor rotation away from AI-related stocks due to political uncertainty surrounding midterm elections and growing skepticism regarding future demand for high-performance chips. The market impact extended across the industry, with Advanced Micro Devices (AMD) dropping 17.26% and Broadcom falling 10.43%. Despite the volatility, Nvidia's trading volume was significantly higher than average, reaching over 300 million shares as investors await the company's quarterly update scheduled for November 17.