Nvidia Loses $204 Billion in Five Days as Sixth Straight Drop Looms Before Earnings

Nvidia stock was heading toward a sixth consecutive decline Friday, potentially giving the artificial intelligence chipmaker its longest losing streak since January 2022 just days before a closely watched earnings report.

NVDA traded at approximately $216.30 at 10:06 a.m. Eastern Time, down 0.25% from Thursday’s $216.85 close.

The stock had already completed five consecutive losing sessions, falling from $225.30 on August 13 to $216.85 on August 20.

A Friday close below $216.85 would officially extend the streak to six sessions. Nvidia previously recorded a six session losing streak in January 2022, meaning the current decline would be its longest in more than four years.

Five Completed Losses Erased $204 Billion

Using Nvidia’s approximately 24.20 billion outstanding shares, the decline from $225.30 to Thursday’s $216.85 close removed an estimated $204.5 billion from the company’s market capitalization.

With Nvidia trading at $216.30 on Friday morning, the total intraday reduction from the August 13 close had increased to approximately $217.8 billion.

The calculation is:

($225.30 minus $216.30) multiplied by 24.20 billion shares equals approximately $217.8 billion

The exact figure will continue changing during Friday’s session.

Despite the decline, Nvidia remained valued at approximately $5.23 trillion and had gained about 16% since the beginning of 2026. The stock was approximately 8.6% below its May record of $236.54, according to current market data.

The selloff has not followed a profit warning or a reduction in Nvidia’s financial guidance. Instead, it has occurred alongside broader weakness in semiconductor and AI related stocks.

Rising Treasury yields have pressured technology valuations while investors reassess the enormous amounts being committed to AI infrastructure. The Philadelphia Semiconductor Index was down approximately 5% for the week as long term borrowing costs increased.

Nvidia Earnings Could Move More Than $300 Billion

Nvidia will publish its fiscal second quarter 2027 results after the market closes on Wednesday, August 26.

Options prices imply that traders expect NVDA to move approximately 6% in either direction following the announcement.

Based on Nvidia’s current market capitalization of approximately $5.23 trillion, a 6% move would add or remove roughly $314 billion in shareholder value.

That would be larger than the entire market capitalization of most publicly traded companies.

Wall Street expects Nvidia to report:

• Revenue of approximately $92.16 billion
• Adjusted earnings of $2.09 per share
• Data center revenue of approximately $85.67 billion
• Data center growth of about 108% from the previous year

Those estimates would place Nvidia’s quarterly revenue and adjusted earnings at roughly twice their levels from one year earlier.

Visible Alpha estimates reported by Investopedia show that 12 of the 13 analysts it tracks recommend buying Nvidia shares.

What Investors Will Watch

The upcoming results will show whether spending by cloud providers and other major technology companies continues translating into rapidly growing demand for Nvidia’s processors and networking products.

Investors will focus on data center sales, Blackwell demand, Vera Rubin deployment plans, product availability, gross margins and management’s revenue forecast for the following quarter.

They will also examine Nvidia’s comments about competition from custom AI chips and the financing arrangements supporting the rapid construction of AI data centers.

These are established areas of investor attention. However, they do not prove that Nvidia’s current decline reflects deterioration in its operating business.

The latest selloff appears to represent a broader valuation adjustment across semiconductor stocks ahead of a financial report carrying unusually high expectations.

NVDAB Reflects the Earnings Pressure

Nvidia Tokenized bStock, trading as NVDAB, was quoted near $217.15 against USDT on Binance.

NVDAB provides tokenized economic exposure linked to Nvidia shares. A major movement in NVDA following Wednesday’s earnings report could therefore produce similar volatility in the tokenized market.

Temporary differences between NVDAB and NVDA can occur because the assets trade through separate venues with different liquidity, spreads and trading hours.

For now, Nvidia’s five completed declines represent a pre earnings valuation pullback rather than evidence of a confirmed slowdown in its AI business.

The six session losing streak will only become official if NVDA closes Friday below $216.85. Wednesday’s results and forward guidance will provide the next measurable test for both NVDA and NVDAB.