Nvidia’s (NVDA) market cap falls below the $5 trillion mark for the first time since May 6 amid a broader semiconductor selloff and market rotation.
The stock has plunged more than 6% today, wiping out over $320 billion in market capitalization, and is on track of its worst single-day decline since April 16, 2025.
The primary catalyst for the broader semiconductor selloff was Broadcom (AVGO) reporting disappointing AI chip revenue guidance. Broadcom missed expectations by roughly $1.2 billion, causing its own stock to plunge over 20% in just 2 days.
This sparked a sudden wave of profit-taking across the entire AI ecosystem, pulling down peers like Micron, AMD, Intel and Marvell Technology alongside Nvidia.