How Nvidia doubled earnings, lost almost $300 billion in value and shook the stock market

Nvidia's stock price has been affected by several factors, including a skeptical view on the impact of AI technology and economic warning signals. The labor market in the U.S. is showing signs of weakness, and problems in China's housing sector have begun to weigh on consumption. A pair of new reports cast doubt on when AI investments will pay off. Analysts at BlackRock Investment Institute and JP Morgan Asset management believe investors are debating whether future revenues for top tech and cloud computing firms could justify billions of dollars of capital spending being poured into artificial intelligence (AI). Nvidia maintains at least 90% market share in AI chips for the next two years, but the Justice Department is reportedly looking into antitrust issues surrounding the company.