Nvidia sells graphics processing units (GPUs) that provide computing power for various uses. More than two decades ago, the main function was to support PC gaming. But what has put the business on the map in recent years has been its GPUs that enable training AI models in massive data centers, now representing the bulk of the chipmaker's sales.

Drops for Nvidia and other superstar stocks are dragging U.S. stock indexes lower on Monday and keeping Wall Street stuck in its weekslong rut. The S&P 500 fell 0.8% in early trading, coming off its fourth losing week in the last five.