Nvidia stock drops 5% despite positive analyst response to CEO's CES speech

Nvidia stock fell about 5% on Tuesday, despite briefly reaching a new record after CEO Jensen Huang's speech at CES. The speech focused on advancements in artificial intelligence but did not maintain the stock's upward momentum. Other companies, like Aurora, Micron, Toyota, and Uber, saw stock gains following Huang's address. Aurora's shares surged nearly 40%, marking their highest level since early 2022. Huang emphasized Nvidia's leadership in AI technology, noting its expansion from cloud services to enterprise and consumer markets. Nvidia has seen significant growth, with its stock increasing over 2,000% in the past five years.