Michael Burry is betting big against Nvidia and Palantir. (Photo source: X/@nvidia) Show Quick Read Summary is AI Generated. Newsroom Reviewed

It hasn't been too long since Nvidia became the first company with a market capitalisation of over $5 trillion. The company reached the milestone on Oct. 29, and since then, things have not gone too well for Wall Street's AI-driven stocks.

Since Nvidia's record milestone, the chipmaker's stocks have fallen almost 10%, thus wiping a significant portion of its year-to-date gains. But the weakness is not just limited to Nvidia and has been witnessed across the broader tech sector.

Oracle is down 20% since Nvidia's milestone, while Meta has fallen almost 20% as well. Palantir has corrected almost 14% while Elon Musk's Tesla shares are down 11.4%

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