Nvidia Corp.’s $3 trillion run-up in market value in the two years since ChatGPT helped trigger an AI frenzy is bigger than any stock rally in history in such a short time span. But the landscape is now changing for the chipmaker.

That turbulence has been on display recently, with Nvidia shares slumping after a presentation by chief executive Jensen Huang fell short of investors’ high expectations. The stock has dropped for five-straight sessions, shedding 12 per cent since hitting a record on Jan. 6. Investors say these kinds of swings come with the territory.

That turbulence has been on display recently, with Nvidia shares slumping after a presentation by Chief Executive Officer Jensen Huang fell short of investors' high expectations

Nvidia’s scorching 800% rally in the past two years has hit a stumbling block. Facing pressure from slowing revenue growth, tougher competition and stricter regulation — Nvidia shares have dropped for the past five days,