The fall of Nvidia
Nvidia closed five sessions with a total decline of 18.29% and on Tuesday fell to its lowest level since April 7, after a 4.2% drop in the single day. According to the source material, the stock is now worth about $169, against an average analyst price target of nearly $326. The move is part of a broader sell-off in artificial intelligence-related stocks, which has reached a new critical point.
Two distinct factors weigh on the chipmaker. The first is a higher-than-expected U.S. inflation reading, which reinforced expectations of another interest rate hike by the Federal Reserve next month. The second concerns governance: the company has instructed lawyers to conduct an internal investigation related to CEO Jensen Huang, while the development of a data center in Ohio has become complicated. Nvidia says Huang fully supports the review. This is information reported by the source, not confirmed findings.
The sector picture and Anthropic's IPO
The context does not concern Nvidia alone. Among companies that rent out computing power, Iren lost 10%, Nebius 7% and CoreWeave 3%: all three are at least 40% below the Oct. 6 Nasdaq high. The Nasdaq Composite was down about 1% on Tuesday afternoon; in the past month the index has lost at least 1% eight times and gained at least 1% six times.
Against this backdrop, Anthropic has confirmed its Nasdaq listing for November 18, with first trading the following day. The offering involves 825 million shares under the ticker “ANT” and could raise up to $64.4 billion, for a maximum valuation of $1.4 trillion. Seven strategic partners, including Google and Nvidia, have agreed to buy $26 billion of non-voting shares at the offering price. According to part of the market, the fundraising came in below expectations, fueling selling. The source also notes that, after the U.S. midterm elections, investors fear stricter rules and greater scrutiny of data center construction.
The rebound and the open issues
On Wednesday, markets recovered: according to XTB, the Nasdaq 100 rose by nearly 2%, with Nvidia and CoreWeave rebounding; the latter raised its annual revenue forecast to $13–13.3 billion. The strategists cited by Business Insider speak of a selling phase that may be over and a possible year-end rally.
However, two decisive events remain: Nvidia's earnings, expected in a week, and Anthropic's debut immediately afterward. The source highlights the risk of a rebound that is only halfway: a placement worth tens of billions can drain capital from other AI stocks, and autumn volatility has not disappeared. If the chipmaker's results confirm solid chip demand, the market could read the IPO as a green light; otherwise, November 19 risks becoming the first real test of the price of artificial intelligence. These latter are assessments attributed to analysts, not verifiable forecasts.
