Shares of Nvidia (NASDAQ: NVDA) are plummeting on Thursday. The artificial intelligence (AI) chip giant's stock lost 7.8% as of 1:30 p.m. ET, and was down as much as 9.5% earlier in the day. The steep decline comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 4.

As you can imagine, to fill such an area, companies need to purchase a lot of GPUs. Without a doubt, no company has a hold on the AI GPU market like Nvidia (NASDAQ: NVDA) and it's been handsomely rewarded for it.

An absolute bloodbath. Nvidia (NASDAQ:NVDA) shares tanked nearly 8% on Wednesday, erasing a $22 billion in market value – the