The Biggest Surprise About Nvidia's AI Conference: It Didn't Give the Stock a Boost

By David Jagielski, CPA – Mar 26, 2026 at 1:00PM ESTKey PointsNvidia's recent tech conference didn't help rally the stock, despite multiple positive announcements.Investors have been fairly bearish on tech stocks as a whole this year.Nvidia's valuation is also high, and it factors in a lot of future growth.Nvidia (NVDA 3.68%) recently held its global artificial intelligence (AI) conference, highlighting all the big trends and opportunities in tech. One of the most newsworthy items was CEO Jensen Huang forecasting that orders related to Blackwell and the new Vera Rubin platform will top a staggering $1 trillion by 2027. There was no shortage of encouraging growth prospects and opportunities for Nvidia investors to get excited about, and yet, the stock hasn't been able to get out of its tailspin. As of Tuesday's close, it was still down around 4% since the start of the year. Could this be a sign of trouble for the AI stock? Image source: Getty Images. This may be symptomatic of a broader pullback in tech Although Nvidia's stock price isn't exactly taking off this year, it's also not alone. Many other "Magnificent Seven" stocks are also struggling, and even doing worse. Shares of social media giant Meta Platforms are down 9%, while electric vehicle maker Tesla has seen its valuation fall by 13%. And the Technology Select Sector SPDR ETF is down close to 5%. The one trend that is clear in 2026 is that investors are pivoting toward safer stocks and away from tech. Dividend stocks, gold, silver, and other assets have been in higher demand this year. Whether it's ongoing concern about what will happen with AI and doubts about whether it will indeed pay off for companies, or if it's simply just fatigue from AI investing themes, investors have been backing away from tech stocks of late. ExpandNASDAQ: NVDANvidiaToday's Change(-3.68%) $-6.58Current Price$172.10Key Data PointsMarket Cap$4.3TDay's Range$171.84 - $176.5252wk Range$86.62 - $212.19Volume4.7MAvg Vol176MGross Margin71.07%Dividend Yield0.02% Nvidia's valuation may already price in a lot of future growth Another issue to consider is whether Nvidia's stock price is already so high that investors have already priced in a lot of future growth. Thus, news of a strong backlog of orders may not be enough to move an already expensive stock. At around $4.4 trillion, Nvidia remains the most valuable company in the world, even with its decline this year. It trades at 36 times its trailing earnings, which isn't exactly cheap. And if investors are having doubts about AI, they may not be willing to pay more of a premium for the business. Whether you think Nvidia is a good buy today depends on whether you think AI spending will remain high and whether the company will continue to dominate the chip market. There are many other companies developing their own chips these days, and competition may intensify in the future, so there is a bit of risk here. However, as a long-term investment, I think Nvidia's stock could still be a good buy given the plentiful growth opportunities in AI.Read NextMar 26, 2026 •By Leo Sun3 Reasons Broadcom Could Be a Better AI Play Than NvidiaMar 26, 2026 •By Adam SpataccoNvidia Just Reported a $1 Trillion Order Pipeline. Why Is the Stock Barely Moving? Here's What Investors Are Missing.Mar 26, 2026 •By John BallardNvidia's Networking Revenue Just Grew 263%. The AI Trade Is No Longer Just About GPUs.Mar 26, 2026 •By Adria CiminoIs Nvidia About to Soar? Here's What History Says.Mar 26, 2026 •By Keithen DruryHow I'd Invest $10,000 in AI Stocks Right NowMar 26, 2026 •By Adam SpataccoBank of America Says the Tech Sell-Off Doesn't Make Any Sense. Here's Why I Agree.About the AuthorDavid Jagielski, CPA, has been a contributing Motley Fool stock market analyst covering healthcare, consumer staples, consumer discretionary, and technology stocks since 2017. David has more than 10 years of experience in finance roles across businesses of different sizes and sectors. He holds a Certified Public Accountant designation in Canada.TMFdjagielskiStocks MentionedNvidiaNASDAQ: NVDA$172.02(-3.73%)-$6.66Meta PlatformsNASDAQ: META$544.42(-8.48%)-$50.48TeslaNASDAQ: TSLA$375.07(-2.82%)-$10.88Select Sector SPDR Trust - State Street Technology Select Sector SPDR ETFNYSEMKT: XLK$132.96(-2.78%)-$3.80*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.