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.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

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,

CoreWeave projects full-year revenue growth of 174% this year, as it is proving to be one of the fastest-growing AI stocks to buy right now. For investors, it could possess a lot of upsides, as it benefits from strong demand for Nvidia's chips and the ongoing need for greater computing capabilities as a result of AI.

Tech stocks Palantir, Nvidia, and Intel rise after days of declines. Walmart is scheduled to report quarterly earnings Thursday.

The Dow Jones index closed slightly in positive territory. Nvidia, Palantir both sank Tuesday. A manufacturing services name sold off.

Two hedge fund managers with a track record for market beating returns sold Nvidia and bought Palantir in the second quarter.