Nvidia’s $4 Trillion Stock Rally Faces More Threats Than Ever

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The world’s most valuable company is on shaky stock market footing as 2026 gets underway.

Nvidia Corp. shares are down about 8% since hitting a record on Oct. 29, well underperforming the S&P 500 Index, as investors grow concerned about the sustainability of artificial intelligence spending and the chip giant’s grip on the market.