Nvidia Shares Retreat Ahead of Quarterly Earnings

Shares of Nvidia moved lower Tuesday ahead of the chip maker’s quarterly results, set for release after the closing bell.

Nvidia’s shares recently stood more than 1% lower. They have more than tripled so far in 2023, and closed Monday at at a record high of $504.09.

The stock has risen as investors have gobbled up shares tied to artificial intelligence. The rise of Nvidia, one of the so-called Magnificent Seven big tech firms, has helped power this year’s gains in the S&P 500.

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