Powerful new chips are on the way but there are questions over whether tech firm’s growth can be sustained

When Jensen Huang spoke at the Nvidia annual general meeting last week, he made no mention of a share price slide.

The US chipmaker, buoyed up by its key role in the artificial intelligence boom, had briefly become the world’s most valuable company on 18 June but the crown slipped quickly. Nvidia shed about $550bn (£434bn) from the $3.4tn (£2.68tn) peak market value it had reached that week, as tech investors, combining profit-taking with doubts about the sustainability of its rocketing growth, applied the brakes.