Just last week,$NVIDIA (NVDA.US)$Its market cap once reached 3.34 trillion US dollars, surpassing Microsoft to become the world's most valuable company. However, the stock has since fallen by about 500 billion US dollars. Now, investors want to know whether this semiconductor giant has peaked, as its dominant position in the AI and semiconductor market has kept its stock price on a dizzying upward trajectory so far - has it peaked? However, their concerns were not alleviated by the annual shareholder meeting held on Wednesday.

Nvidia CEO Huang Renxun's speech at the meeting did not sound the alarm for the market, but he also did not soothe market concerns or make any firm guarantees on how the company will deal with competitors, maintain its industry-leading position or offer any breakthrough information mentioned at the March GTC conference.

OpenAI founder Sam Altman and Tesla CEO Elon Musk and other CEOs still believe that graphics processing unit GPUS chips are a key component of the generative AI boom. Furthermore, other tech giants have started developing their own alternatives.

It's worth noting that even if a company releases its own version, it takes time to determine the reliability of these product versions. Google said in April it was developing an Arm-based CPU chip Axion and Microsoft is also working hard to develop its own AI chips.

Huang Renxun did not mention the specific launch time of the company's next-generation AI chip Blackwell at the meeting, although he previously said it would be Nvidia's "most successful product" in history. The chip made its debut at the GTC conference, but Huang Renxun did not provide any information on the price or launch time of the chip, which reportedly runs at least twice as fast as its predecessor, the H100 chip.

Huang Renxun spoke positively about Nvidia's prospects, saying that the company has paved the way for future computing development, which has taken about 20 years. Nvidia serves more than 5 million developers and 40,000 companies, including thousands of AI companies.

Huang Renxun said, "Nvidia is accelerating computing development and has now reached a critical point, achieving a virtuous circle."

However, this did not satisfy the shareholders. The stock price still fell by more than 2%, and as of press time, Nvidia fell by 1.53% in after-hours trading.

Nvidia is still one of the largest companies in the world, but only time will tell whether it can continue to maintain its dominant position as a major computing chip supplier and whether its enormous market cap is sustainable.

Edited by Jeffrey