Nvidia (NASDAQ: NVDA) shares fell 3.5% on Tuesday, closing at $175.64, as tech stocks broadly pulled back following a recent rally. The chipmaker traded 183 million shares, just above its three-month average of 181 million, signaling a cooling of momentum after reaching record highs earlier this month.

NvidiaNVDA stock has pulled back from recent highs amid concerns of a bubble in artificial intelligence stocks.Last week, OpenAI Chief Executive Sam Altman told reporters that he thinks the AI market is in a bubble,

Tech stocks Palantir, Nvidia, and Intel rise after days of declines. Walmart is scheduled to report quarterly earnings Thursday.

Nvidia's stock hit a new high after the company struck a deal with the U.S. government to resume the sale of select chips to China.

The Dow Jones index closed slightly in positive territory. Nvidia, Palantir both sank Tuesday. A manufacturing services name sold off.

Nvidia's stock was falling 3.2% in recent trading, enough to push it below its 20-day moving average ($178.49) -- a short-term trend tracker -- for the first time since April 23. That snaps an 80-session streak above the 20-DMA,

Hedge funds led by billionaires Israel Englander and Chris Rokos sold Nvidia and bought Palantir stock in the first quarter. Nvidia is the market leader in data center GPUs and generative AI networking gear,

The Dow Jones index dropped ahead of Friday's speech from Fed Chair Jerome Powell. Amazon and Meta stock fell Monday.