Shares of chipmaker Nvidia (NASDAQ: NVDA) have soared more than 2,400% in just the past five years. The stock has proven to be a growth machine due to advancements in artificial intelligence (AI) and the importance the company's chips play in next-gen technologies.

Nvidia stock was looking to find its footing on Wednesday after economic data prompted a Big Tech selloff the previous day. Nvidia stock tumbled 6.2% in the previous session, wiping out about $200 billion worth of market capitalization.

CES induced sell-off attack plan. At the glitzy tech gathering this Monday, Nvidia CEO Jensen Huang shared that the company has kicked production of its much-anticipated Blackwell chip into high gear.

A s if its 171% gain in 2024 wasn't enough, shares of Nvidia (NASDAQ: NVDA) were already up about 9% by market close on Jan. 6. This was almost eight percentage points more than t