Shares of NVIDIA slipped more than 2% on Monday, positioning the AI chip giant for its seventh consecutive session of losses 鈥?a streak not seen since September 2022.

The pullback comes just ahead of the company鈥檚 fiscal second-quarter earnings report, scheduled for release after the market close on Wednesday. Over the course of this downward run, the stock has shed roughly 7% of its value.

Investors are now closely watching whether the upcoming results can stem the slide, as the recent selloff has erased a portion of the gains built up during the broader AI-driven rally earlier this year.

This marks a notable shift in sentiment for NVIDIA, which has been a bellwether for the AI trade and a major driver of market momentum. The consecutive declines highlight growing caution ahead of the earnings print, with traders weighing valuation concerns against the company鈥檚 dominant position in the AI accelerator market.

Should Wednesday鈥檚 report fail to meet elevated expectations, further downside could be on the horizon. Conversely, a strong showing could quickly reverse the recent trend and restore confidence in the stock鈥檚 longer-term trajectory.