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Nvidia falls deeper into correction territory

Nvidia’s stock slid 5% this week, entering correction territory after hitting a high last month. Despite this, Nvidia is still up 160% in 2024, mainly due to the demand for its GPUs powering AI models. Meanwhile, Broadcom, which specializes in custom AI chips for cloud companies, surged 40% recently after strong earnings and optimistic forecasts. Broadcom’s stock is up 120% this year.

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