NEW YORK — Wall Street faded Aug. 19 following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.

Nvidia ( NVDA) may be the market's biggest AI stock, but institutional investors are still shying away. "NVDA is now the most under-owned large-cap tech stock," Morgan Stanley analyst Erik Woodring wrote in a note.

Wall Street fell further from its records. The S&P 500 lost 0.6% Tuesday, its third straight loss after setting its all-time high last week.

Palantir shares have fallen around 15% across the last five days of trading, completely erasing gains made near the start of the month.

Appaloosa's billionaire boss reversed course in the second quarter by becoming a big-time buyer of Nvidia stock and a seller of the hottest AI-networking company.

Nvidia stock has rebounded from its lows earlier this year, and expectations are mighty high as earnings come into view. While competition is rising, Nvidia remains well positioned to capitalize on a number of emerging infrastructure opportunities.

Price increases passed on to China Nvidia is hiking the price of its H20 AI chips by 18 per cent to bankroll a Trump-approved shake-down of its Chinese business. For those who came in late, the US government is demanding 15 per cent of all H20 revenue from mainland sales as the price of doing