On September 14, GraniteShares 2x Long NVDA Daily ETF declined 8.02% in regular trading, trading at $31.68/share, with turnover of $182 million. As a 2x leveraged ETF tracking NVIDIA, the amplified decline reflected significant selling pressure on the underlying stock, which fell over 3.4% during the session.

The selloff was triggered by CEOs of three leading AI companies publicly calling for a slowdown in AI model development. Anthropic CEO published a post over the weekend urging the industry to moderate its pace, drawing support from Elon Musk and Sam Altman. NVIDIA opened down 3.7%, and AI hardware stocks declined broadly, with ARM down 9.55%, Intel down 7.02%, SK Hynix down 7.29%, and Micron down 6.69%.

Adding to the pressure, reports indicated that NVIDIA, Palantir, and Booz Allen Hamilton plan to restrict access to certain AI models over data privacy concerns, with some sensitive industries shifting toward private deployment. Meanwhile, NVIDIA's customer concentration risk drew attention, with its top three clients contributing 44% of revenue in the first half of the fiscal year, raising concerns about revenue structure vulnerability.

The fund enters into swap agreements with major financial institutions to exchange returns based on the underlying stock, and it is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)