Nvidia stock was dropping as investors awaited the start of CEO Jensen Huang’s keynote address at the company’s GTC developer conference this afternoon.
Shares of the AI chip company were down 3.1% in early trading Monday to $115.84 while the S&P 500 was off 1.1%.
Huang is scheduled to begin the highly anticipated keynote address at 1 p.m. Eastern. Investors will be closely watching any updates that could reinvigorate investor sentiment about AI and Nvidia’s market-leading chips. Nvidia stock has fallen 14% this year.