Despite reporting one of the most spectacular earnings quarters in its history, NVIDIA Corp. (NASDAQ:NVDA) is on track to end November with its worst monthly performance in over three years, raising fresh questions about whether the chipmaker’s AI-fueled rally has hit a wall.

• NVDA is encountering selling pressure. Get the inside scoop here.

Through Nov. 25, Nvidia shares are down 14% month-to-date, a negative monthly return unseen since September 2022.

This pullback sharply contrasts with the company's historical trend: November has traditionally been one of Nvidia's strongest months, averaging a 10.55% return with a 77% win rate.

Notably, the stock recorded only four double-digit November declines since 1999.

Nvidia has returned over 1,300% in the past three years, emerging as the undisputed face of the generative AI revolution.

The latest pullback has sparked debate among investors: Is this just a correction, or the beginning of a broader unwind in ...