Nvidia slides 13% in three days after briefly becoming most valuable company

Nvidia shares fell 6.7% on Monday, the chipmaker's third down day in a row, and the stock is now down 13% from its peak last week.

Other stocks that had steep drops on Monday were some of the biggest gainers of late due to their ties to the artificial intelligence boom.Monday's slide was the chipmaker's second-steepest drop of the year, as the stock fell 6.7% to $118.11. Nvidia's decline brought with it a slide in chipmakers and other tech companies that have been tied to the artificial intelligence boom.

Nvidia says demand for its prized AI graphics processing units remains high, as companies including Microsoft, Google, Amazon, Oracle, and Meta buy billions of dollars worth of the chips to power their data centers and cloud services.

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