Nvidia Corp.'s shares experienced a significant correction, falling into correction territory with a decline of more than 12.4% since reaching an all-time high of $148.88 on November 7. The stock's downturn was exacerbated by comments from Microsoft CEO Satya Nadella, who suggested that the demand frenzy for AI chips might be waning, stating that Microsoft is no longer supply-constrained for chips. Nvidia shares have lost more than $400 billion in market value since Election Day. Despite this, Wall Street analysts, including those from Citigroup, remain bullish on Nvidia, with Citigroup analyst Atif Malik reiterating a 'buy' rating and a $175 price target. Malik anticipates the market for AI accelerators to reach $380 billion by 2028, with Nvidia's GPUs expected to hold a 75% share. Nvidia's stock saw a rebound, rising as much as 4.8% on Wednesday, driven by positive analyst outlooks, but later faltered, ending the day down roughly 1% following comments from the Federal Reserve suggesting fewer rate cuts and stickier inflation in 2025. Nvidia's next-generation Blackwell GPU chip faces a one-year backlog for new orders, and Microsoft, Nvidia's largest customer representing about 20% of its revenue, has indicated a shift in the supply and demand dynamics for AI chips. Additionally, comments from Alphabet CEO Sundar Pichai and OpenAI cofounder Ilya Sutskever suggest potential roadblocks in AI development, while Broadcom's strong earnings results may be driving a rotation out of some AI winners into others.