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.

Insatiable” AI demand and revenue opportunities from China are leading analysts to raise their price targets as Nvidia prepares to report earnings.

Nvidia stock has suffered its biggest drop in months amid a broader selloff in highly valued technology companies.