It seems reality is finally catching up with Nvidia (NVDA), which has seemed unstoppable since artificial intelligence euphoria began in 2023. The stock, which gained almost 240% in 2023 and 171% in 2024,

Market heavyweight Nvidia (NVDA) delivered blockbuster results in Q4 of its fiscal year ended January 2025, which saw revenue soar to a record $39.3 billion.

Investors appear worried about the health of AI spending. But big AI customers don’t seem hesitant, an analyst notes.