What Happened? Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) fell 3.5% in the afternoon session after investors took some profits off the table as markets awaited signals on future monetary policy from the Federal Reserve's Jackson Hole symposium later in the week.

A wave of investment from big tech companies like Meta, Alphabet, and Microsoft, racing to stay ahead of the curve, has driven Nvidia's revenue and earnings through the roof. While it's no longer growing quite as fast as a few years ago, the company is still delivering 65%+ growth year over year.

Nvidia remains the dominant AI chipmaker in the market, but where is the stock headed for the rest of this year and into the next?