Bot Drop Earlier this year, AI chipmaker Nvidia was riding high, enjoying a record-breaking valuation of $3.3 trillion. But this summer, investors started asking some tough questions. Shareholders started getting cold feet over AI companies’ sky-high valuations, as CNN reports, with widespread skepticism causing stocks to come crashing back down. As the company selling the shovels for the goldrush, Nvidia should be making money hand over fist. But instead, it wiped a massive $279 billion off its value on Tuesday, a precipitous drop of 9.5 percent in share price. The slump even erased about $10 billion from CEO Jensen Huang’s personal net worth, his biggest single-day drop according to the Bloomberg Billionaires Index. Something’s off, in other words, despite the company’s growing revenue. Is this just the market’s correction to signs of a slowing economy? Are investors becoming wary of major investments in largely unproven tech that’s still far from turning a profit? While it’s still too early to tell if Nvidia’s most recent troubles are a canary in the AI coal mine, there are plenty of signs to suggest that growing skepticism is starting to put a real damper on the hype surrounding AI. Greatest Expectations Tech giants have been pouring billions of dollars into expanding data centers to support insatiable AI models, but aren’t anywhere near seeing a return on their astronomical investments. To reassure investors, tech CEOs have tried to argue that it’ll all be worth it once AI’s ambitions are fully realized, eventually. That line of reasoning, though,…Nvidia Should Be Printing Money Right Now by Selling AI Hardware. Instead, Its Stock Is Falling