Nvidia (NASDAQ: NVDA) shares fell 3.5% on Tuesday, closing at $175.64, as tech stocks broadly pulled back following a recent rally. The chipmaker traded 183 million shares, just above its three-month average of 181 million, signaling a cooling of momentum after reaching record highs earlier this month.

NvidiaNVDA stock has pulled back from recent highs amid concerns of a bubble in artificial intelligence stocks.Last week, OpenAI Chief Executive Sam Altman told reporters that he thinks the AI market is in a bubble,

Tech stocks Palantir, Nvidia, and Intel rise after days of declines. Walmart is scheduled to report quarterly earnings Thursday.

Nvidia's stock hit a new high after the company struck a deal with the U.S. government to resume the sale of select chips to China.

The Dow Jones index closed slightly in positive territory. Nvidia, Palantir both sank Tuesday. A manufacturing services name sold off.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

CoreWeave projects full-year revenue growth of 174% this year, as it is proving to be one of the fastest-growing AI stocks to buy right now. For investors, it could possess a lot of upsides, as it benefits from strong demand for Nvidia's chips and the ongoing need for greater computing capabilities as a result of AI.

Nvidia's stock was falling 3.2% in recent trading, enough to push it below its 20-day moving average ($178.49) -- a short-term trend tracker -- for the first time since April 23. That snaps an 80-session streak above the 20-DMA,