Nvidia (NASDAQ: NVDA) shares fell 3.5% on Tuesday, closing at $175.64, as tech stocks broadly pulled back following a recent rally. The chipmaker traded 183 million shares, just above its three-month average of 181 million, signaling a cooling of momentum after reaching record highs earlier this month.

NvidiaNVDA stock has pulled back from recent highs amid concerns of a bubble in artificial intelligence stocks.Last week, OpenAI Chief Executive Sam Altman told reporters that he thinks the AI market is in a bubble,

Stocks traded mostly lower Wednesday as a selloff in technology names continued and number of big-name retailers reported quarterly earnings. Wall Street also parsed the minutes from the latest Federal Reserve meeting,

Nvidia's stock hit a new high after the company struck a deal with the U.S. government to resume the sale of select chips to China.

The Dow Jones index dropped ahead of Friday's speech from Fed Chair Jerome Powell. Amazon and Meta stock fell Monday.