$NVIDIA (NVDA.US)$, the AI chip giant, witnessed a significant drop at Monday's close, falling by 6.68% and registering its largest drop in two months. This downturn marks the third consecutive day of losses, with a cumulative decline of 12.88% over the span. Notably, just last Tuesday, Nvidia had surpassed $Microsoft (MSFT.US)$, clinching the title of the most valuable company by market capitalization.
What Could Have Caused the Consecutive Decline?
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$NVIDIA (NVDA.US)$ surpassed $Microsoft (MSFT.US)$ as the world's most valuable company amid growing optimism over the chip giant's lead over its peers in the AI race.
Nvidia shares climbed to a fresh intra-day high of $136.25 Monday. It traded at $136.115 at 1:58 p.m. in New York taking its market cap to $3.35 trillion. Microsoft, on the other hand, slipped 0.2% to $447.36, trimming its market cap to $3.32 trillion.  
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$NVIDIA (NVDA.US)$
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