The explosive growth of its data center business, which sells high-end GPUs for processing complex artificial intelligence (AI) tasks, fueled a large portion of those gains and turned it into a linchpin and bellwether of the booming AI market.

Shares of both Palantir Technologies (NASDAQ: PLTR) and Nvidia (NASDAQ: NVDA) have delivered stunning gains this year thanks to the growing demand for both artificial intelligence (AI) hardware and software,

Key technical levels are starting to break. The stock has dropped below short-term moving averages, a sign that gravity is starting to kick in.

For much of the last two years, big tech has dominated the storyline revolving around artificial intelligence (AI). "Magnificent Seven" members Microsoft, Amazon, and Alphabet have invested billions into the likes of ChatGPT creator OpenAI and perhaps its biggest rival,

Nvidia (NVDA) stock’s meteoric rise seems to have hit a roadblock. Despite delivering an exceptional Q3 performance that surpassed Wall Street’s expectations, NVDA stock has been on a downward trajectory.