Quick overview

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Nvidia (NVDA) took a sharp hit today, closing right at its intraday low of $200.04 per share. The stock fell 4.13% during the session, continuing a broader cooling-off period seen throughout June

Nvidia has slipped roughly 10.8% since the beginning of June, when it opened the month trading at $224.36. Prediction and options markets have turned short-term bearish, with traders increasingly pricing in a temporary correction or consolidation around the $200 support level.

 Some minor downward pressure stems from data center metrics. The hourly rate to lease Nvidia’s high-end B200 GPU compute capacity has eased down from a three-month high of $6.11 in late May to around $4.22. Analysts keep a close eye on this, as it serves as a real-time proxy for active demand for massive AI model training.

 Despite the short-term pullback, Nvidia is trying to open an entirely new front outside of graphics processors. Management recently flagged its new Vera CPU, aiming at an addressable central processing unit market estimated at $200 billion.

 The company noted it already has visibility into nearly $20 billion in CPU revenue for the year, targeting complex, multi-step “agentic” AI workflows that rely heavily on serial processing.Wall Street remains overwhelmingly bullish long-term. Major institutions like Bank of America and Stacy Rasgon maintained their “Buy” ratings this month, with average 12-month price targets floating around $309.33