Nvidia remains the dominant AI chipmaker in the market, but where is the stock headed for the rest of this year and into the next?

Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) fell 3.5% in the afternoon session after investors took some profits off the table as markets awaited signals on future monetary policy from the Federal Reserve's Jackson Hole symposium later in the week.

Nvidia is up 31% this year. The Nasdaq Composite dipped 1.5% on Tuesday, and the Magnificent Seven exchange-traded fund—which includes Nvidia and other hot artificial-intelligence plays—fell 1.6%. Nvidia lost $155 billion in market cap today,