Nvidia stock has been stuck in a narrow range for the last year. On Thursday, it flashed a downbeat technical signal that could mean losses ahead for investors.

The last two bearish crossovers led to further sharp selloffs, but there are some differences in the stock’s chart this time.

Of course, Nvidia GPUs are the industry standard in accelerating AI applications in the data center. So, any decrease in AI infrastructure spending would be bad news for the company. CEO Jensen Huang addressed those concerns this week during his keynote speech at GTC, an annual developer conference focused on AI.

But his latest foray into the quantum world appeared to have the opposite effect. Despite Huang's public change of tune, several key stocks in the sector tumbled on Thursday, with

The AI chip maker’s Quantum Day was lacking in major announcements and the high-flying–but highly volatile–stocks tumbled.