Nvidia’s shares surge again after US$430-billion market slump

) were up over 5% on Tuesday, poised to snap a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker’s market value.

Nvidia’s breathtaking rise and its position as the dominant provider of chips to support artificial intelligence applications have made it emblematic of this year’s tech-driven boom in U.S. stocks. Nvidia call options, typically used to bet on a rising stock price, outnumbered puts by 1.4-to-1 over the last three sessions, Trade Alert data showed. That compared to a call-to-put ratio of 1.6-to-1 for the prior 10 sessions.

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Nvidia's shares nosedive to wipe US$430 billion off its valueNvidia has lost its briefly worn crown as the world’s most valuable listed company after its stock plunged almost 13 per cent in the past week.
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