Nvidia Corp. Chief Executive Officer Jensen Huang is losing his midas touch in the stock market. A year ago, when the euphoria about artificial intelligence was in full force, Huang’s name dropping of customers and partners at the chipmaker’s GTC conference sparked a rally in a number of the stocks,

U.S. stocks are resuming their slide, led by AI superstars that are feeling painful downside of big expectations.

Investors hoping for a surprise new revenue stream instead got an energetic keynote that was lacking in fresh developments.