Nvidia shares came under renewed selling pressure on Tuesday, slipping more than 3% as investors reacted to a broad tech sell-off and lingering uncertainty around the chipmaker’s high-profile relationship with OpenAI. The decline came even as CEO Jensen Huang publicly dismissed speculation of tensions between the two companies, calling recent reports “complete nonsense.”
📉 Nvidia Share Price Snapshot
Price: $179.64 USD
Day Move: −$5.98 (−3.22%)
Previous Close: $185.61
Day Range: $176.10 – $186.27
Market Cap: $4.36T
P/E Ratio: 44.46
The stock opened near $186 before sliding steadily through the session, briefly dipping below $177 in afternoon trade. Nvidia has now fallen roughly 13% from its October peak, reflecting a growing sense of caution across mega-cap technology stocks after months of outsized gains.
Speaking in an interview with Jim Cramer, Huang addressed market chatter suggesting Nvidia’s planned investment in OpenAI was at risk. “There’s no drama involved. Everything’s on track,” he said, emphasizing that Nvidia intends to participate in OpenAI’s next fundraising round, which could be one of the largest private capital raises ever attempted.
The comments followed reports claiming the proposed deal — first outlined last September — had stalled. Under the initial plan, Nvidia would invest in OpenAI over time while supplying large-scale AI infrastructure built around its GPUs, with power requirements estimated at up to 10 gigawatts. While an SEC filing later noted the agreement had not yet been finalized, Huang said Nvidia’s commitment remained unchanged.
Despite the reassurances, Nvidia shares tracked lower alongside other chipmakers as investors rotated out of growth stocks. Concerns over valuations, rising bond yields, and intensifying competition in AI hardware have all weighed on sentiment. OpenAI itself has acknowledged chip shortages and has explored partnerships with Nvidia rivals, adding another layer of complexity for the market.
Analysts note that Nvidia’s long-term position in artificial intelligence remains formidable, but the stock’s recent pullback highlights how sensitive expectations have become after the company’s historic rally. Even modest uncertainty around strategic partnerships can trigger sharp moves when valuations are stretched.
For now, Nvidia’s leadership is pushing back hard against speculation, reinforcing its close ties with OpenAI and its intention to support the AI lab through future funding rounds and a potential public listing. Full details from Huang’s interview are expected to air later on CNBC.
As trading continues, investors will be watching whether Nvidia can stabilize above the $180 level or if broader tech weakness drags the stock closer to its recent lows. Either way, Tuesday’s action shows that even the market’s most dominant AI name is no longer immune to volatility.
