Nvidia will convene its annual shareholder meeting on Wednesday, with investors set to vote on executive compensation, board re-election, and ratifying an accounting firm. The shares gained another 2% in premarket trading Wednesday.
Shares of Nvidia surged nearly 7% on Tuesday, snapping out of a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker's market value.
Nvidia's shares finished at $126.09, after a tumble that saw them lose around 13% from their June 18 close of $135.58. The drop followed a rally that accelerated after a 10-for-1 stock split that took effect on June 10.
Shares of Nvidia, which last week briefly became the world's most valuable company, are up 154% this year and have accounted for nearly 30% of the S&P 500's year-to-date return as of Monday's close, according to S&P Dow Jones Indices. The index is up 14.6% this year.
The recent selloff helped ease some worries about Nvidia's valuation, which now stands at about $3.1 trillion from a high of about $3.3 trillion earlier this month.