• Nvidia's market cap dropped around $500 billion since it became the world's most valuable company.
• Skittish investors had been awaiting its annual meeting for comments that might reverse the trend.
• CEO Jensen Huang discussed the chipmaker's success but didn't offer much new news.

Nvidia briefly dethroned Microsoft to become the world's most valuable company just last week when it hit a valuation of $3.34 trillion.

But since then, it's dropped by around $500 billion. Now, investors are left wondering if the chip-making giant — whose shares have, until now, been on a dizzy upward trajectory thanks to its dominance of the AI semiconductor market — has peaked.

The annual shareholder meeting on Wednesday didn't ease their concerns.

Nvidia CEO Jensen Huang didn't say anything to sound off alarms during the meeting. But he also didn't say anything particularly reassuring about how it will fend off competitors and maintain its position at the top — or anything game-changing that hadn't already been touched on at the GTC conference in March.

CEOs like Sam Altman and Elon Musk still view the graphics processing unit chips as a key component of the generative AI boom. However, other tech giants have started to develop their own alternatives.

It's worth noting that even if companies do come out with their own versions, it could take a while before they become fully reliable. Still, Google said it's making its own Arm-based CPU processor, Axion, in April, and Microsoft is also attempting to create its own AI chips.

Huang also failed to mention during the meeting when exactly the company's next-generation AI chip, Blackwell will become available, although he said it would be "the most successful product" in Nvidia's history. He unveiled the chip at the GTC conference but hasn't provided information on its price or availability since. The chip is supposed to operate at least two times faster than its predecessor, the H100.

Huang talked positively about the prospects for Nvidia, saying that the company has created a path forward for the future of computing, which took about two decades to reach. Nvidia serves over five million developers and 40,000 companies, including thousands of AI companies.

"Nvidia accelerated computing, has reached a tipping point and achieved a virtuous cycle," Huang said.

That wasn't enough for shareholders, however. The stock stayed down more than 2%.

Nvidia is still one of the world's biggest companies, but time will tell if it can maintain its position as the main provider of computing chips — and if its massive market cap is sustainable.

Nvidia declined a request for comment from Business Insider.

• Tech is disrupting all areas of media and entertainment, and investors are rushing to cash in.
• Startups are attracting millions in investments to change how content is made, distributed, and more.
• Here are 23 pitch decks that startups used to fundraise for pre-seed and Series A rounds and beyond.

Technology is upending all facets of media and entertainment. New startups are raising capital to jump on audiences' shift to streaming, change hidebound production practices, and more.

Business Insider talked with founders about the pitches they used to raise millions and innovate in content creation and distribution. 

Investors have particularly chased AI startups like Runway, which promises to reduce the cost and time it takes to create special effects like de-aging and film restoration; and Papercup, an AI-based translation company.

"There's a lot of friction in making content," Peter Cioni previously said of his and his brother Michael's AI platform, Strada, which streamlines production processes. "We want to ease that."

There's Canela Media, which raised $32 million to build a streaming home for Latinos, believing the audience wasn't well served by mainstream streamers. "I kept reading about the streaming wars," cofounder Isabel Rafferty previously told BI. "But I'm a Latina and my options are very limited."

Legion M took an unconventional approach to fundraising. The production startup crowdsourced funding from ordinary people, who will then get a chance to help decide what projects the company pursues. The company called its app that lets users influence the development process a "fantasy football for film buffs." 

Check out the 23 examples below to learn more about how these and other founders have sold their vision (arranged in alphabetical order):

• Allstar, a startup that helps gamers become creators: $12 million Series A
• Almost Friday Media, formerly Friday Beers, a digital media company: $6 million seed
• Amagi, a media tech firm for streaming channels: $95 million
• Canela Media, a Latino-focused streaming startup: $32 million Series A
• Earth Speed Media, a media company launched by "Entourage" star Adrian Grenier: $150,000 in pre-seed
• Estate Media, a media platform cofounded by "Million Dollar Listing" star Josh Flagg: $1.7 million
• FilmHedge, a fintech company that helps new movies and TV series get made: $5 million
• Legion M, a startup film production company: 15 slides
• Lost iN, a creator-focused travel media startup: $4 million
• Metaphysic, an AI startup behind the viral Tom Cruise deepfake: $7.5 million
• Neosapience, an AI startup: $21.5 million Series B
• Overtime, the sports-media startup for Gen Z: $80 million
• Paper, an edtech startup behind a kids' streaming service: $270 million Series D
• Papercup, an AI dubbing company: $20 million Series A
• Rebel Girls, an empowerment-focused media company: $8 million Series A
• Recess, a live events startup: $5 million Series A
• Sonoro, a Latino-focused media company: $12.5 million
• Stagetime, a LinkedIn for performing artists: $1.5 million Series A
• StoryCo, a blockchain-based platform that links Hollywood creatives to fans: $6 million seed
• Strada, an AI startup to streamline content creation: $2 million
• Telly, an ad-supported TV startup from Pluto's cofounder: Seed round
• Toonstar, an animation studio: $4 million
• "Ultimate Beastmaster," Netflix's first reality show: 37-page deck

• I live in Maine, where browntail moth caterpillars can be found. 
• The caterpillars have a toxin on their hairs that can cause painful and itchy rashes on humans. 
• I woke up covered in what I thought were bug bites, only to realize it was the caterpillar rash. 

When I woke up, all I could feel was my entire body itching. I'm allergic to bug bites, and my first thought was that a mosquito had snuck under the covers and attacked me.

When I looked at my body, I was shocked. Yes, it was extremely itchy, but it looked more like a rash than a bite. All I wanted to do was scratch my entire body. Desperate, I went to my dermatologist to make sure it wasn't something dangerous. She took one look at me and said, "Yup, you got the classic presentation of browntail moth rash."

The moth is native to Europe and Asia and was introduced to New England in the 1800s. Maine, where I live, has a large population that comes out from hibernation in April and can cause rashes in humans until July.

The browntail moth caterpillar lives in trees

I first heard about browntail moths from my kids' preschool. They have backwoods where kids explore nature throughout the year, and it's not uncommon to get an email from the administration warning that some kids are coming home with rashes.

Still, the rashes I had seen on my kids were minor — little bumps on their fingers or the back of their hands. Nothing like mine, which spread on my arms, chest, back, legs, and toes.

The caterpillars' hairs contain a toxin that, when brushed against skin, produces a poison ivy-like rash that is incredibly itchy and uncomfortable.

Derek V. Chan, a board-certified dermatologist at All Dermis Dermatology in New York City, said it's key not to scratch the initial bumps. "You can spread the toxin and hairs to other areas of the body and cause new lesions to develop elsewhere," Chan told me.

I tried over-the-counter products, but nothing worked

Before my dermatologist prescribed a topical steroid medication, I tried over-the-counter products to help with the itching.

I took Benadryl before bed and Claritin during the day. The ointment and gel helped ease the itchiness, but only for a little bit. I was especially uncomfortable at night and would wake up scratching my skin raw.

Now, I'm trying steroid cream, but my dermatologist warned me that I wouldn't see results immediately. The duration of the reaction depends on your sensitivity to the toxin. In some people, it can last several weeks, Chang told me.

Chang said that on top of over-the-counter medication, "a cool bath with baking soda and/or finely ground colloidal oat powder" can ease the discomfort.

If you've already picked at the bumps — like I did, because I couldn't stop scratching — Chang recommends wearing sun-protective clothing to avoid scarring, and always wearing SPF when outside.

Chang added that if your tongue swells or you have difficulty breathing after coming in contact with the toxins, it becomes a 911 emergency.

I didn't touch an actual caterpillar

What's tricky about browntail moth is that you don't necessarily need to come in contact with it to get the rash. Touching an item that the moth walked over is enough to generate a reaction.

I still don't know where I came in contact with one since my husband and three kids were thankfully spared from this torture. The only thing I can think of is that I took a nap with our dogs while my husband was doing bedtime with the kids. I assume they rolled on a caterpillar or a nest and then laid on me, transferring the toxins.

My dermatologist said she's been seeing an increasing number of patients with browntail moth rashes. If you're traveling to Maine this summer or your kids attend summer camp here, watch out for these caterpillars. The Maine Department of Agriculture Conservation and Forestry recommends using pesticides to control the population outdoors and a wet vac to remove any caterpillars from indoors.

Chang added that after spending time outdoors, people living in browntail moth-prone areas should keep their skin covered, take a cool shower once they are inside, wash clothes immediately after, and if they come in contact with any other surface where hairs or toxins may linger, wash bedding and towels.

• Elon Musk gave YouTuber Tim Dodd a tour of SpaceX's Starfactory rocket production center.
• Starbase, located in south Texas, has transformed from tents to a massive production facility.
• SpaceX hopes the factory will lead to serialized production of the Starship rocket.

Elon Musk gave an early glimpse into SpaceX's new Starfactory production facility.

Just a day before Starship's Flight 4 successfully landed in the ocean, Musk was at the SpaceX site giving science YouTuber Tim Dodd, known by his channel moniker "Everyday Astronaut," an exclusive tour of SpaceX's rocket factory, including the new facility.

Located in south Texas, Starbase, which just a couple of years prior consisted mostly of tents, has now transformed into a massive facility that Musk anticipates will "dramatically improve production."

"We've got this pretty good-looking rocket factory building that we've almost completed," Musk said. "This will enable us to have serialized production of the rocket, especially the ship, which would ultimately, long term, probably be making a thousand a year of the ship."

Musk showed off various sections of the factory, including the Megabay, which holds three booster rockets. Viewers also saw a closeup of the Raptor engines that power Starship's Super Heavy booster.

Musk explained the new design of the next-gen Raptor, which will not require a heat shield but instead will have integral cooling circuits throughout the engine. "So it looks very simple on the outside, but it's complicated on the inside," Musk said.

The SpaceX CEO also took Dodd inside the brand new Starfactory, which, once completed, is expected to have multiple production stations. Musk said that the now barren site "will be filled with equipment in three months."

"We'll finally have a real factory for Starship," Musk said. "Not just making it in tents."

In a second video uploaded a few days later, Musk also toured the launchpad, where the full-stack Starship awaited launch. The spacecraft, which weighs 5,000 tons at liftoff, is the largest flying object of any kind, Musk said.

"I mean, it's a damn tall rocket," he said. "And it's going to get taller."

The billionaire is already planning to add an even taller, more upgraded second launch tower for the next generation of rockets. But for now, Musk is pretty pleased with the orbital launch mount.

"This is the best launch site and the best rocket we've ever made on Starship," he said.

• A US Navy nuclear-powered ballistic missile submarine surfaced in the Norwegian Sea.
• It was accompanied by a guided-missile cruiser and two naval aircraft.
• The show of force comes weeks after Russia sent a submarine and naval fleet to Cuba.

A US Navy nuclear-powered ballistic submarine popped up in the Norwegian Sea this week in a rare show of force. It was accompanied by a guided-missile cruiser and two naval aircraft.

US Naval Forces Europe-Africa/US 6th Fleet announced the movement of the USS Tennessee (SSBN 734) in the Norwegian Sea on Tuesday, writing that the sub was joined by the USS Normandy (CG 60) as well as a P-8A Poseidon maritime patrol and reconnaissance aircraft and an E-6B Mercury strategic communications plane.

Per the US military post on X, the fleet was in the Norwegian Sea on Sunday. The specific intention is overtly stated, but these assets send a message to potential adversaries.

The flex notably comes amid persistent tensions with Russia, which has been rattling the nuclear saber lately, and just a few weeks after Russia sent a naval flotilla, including one of its own nuclear-powered subs, to Cuba.

USS Tennessee is an Ohio-class ballistic missile sub able to carry as many as 20 Trident nuclear missiles. Its accompanying E-6B Mercury "provides survivable, reliable, and endurable airborne Nuclear Command, Control, and Communications (NC3) for the president, secretary of defense, and US Strategic Command," according to Naval Air Systems Command.

Like the Air Force E-4B Nightwatch, the Navy plane is sometimes described "Doomsday plane" as it can relay National Command Authority directives to US submarines as part of the "Take Charge and Move Out" (TACAMO) mission and fulfill "Looking Glass" obligations, which involves directing nuclear forces if the ground-based options are gone.

The E-6B Mercury had been tracked flying an operation off the coast of Norway on Sunday, which Hans Kristensen, the director of the Nuclear Information Project at the Federation of American Scientists, wrote on X "indicated forward operations with nuclear missile submarines."

While Kristensen said this was expected, he said that he didn't expect to see a nuclear sub surface, calling it "a blunt signal to Russia."

As the "boomers," or ballistic missile subs, are an element of the US nuclear triad, the US Navy doesn't regularly reveal where they are. Other elements of the submarine force also tend to be far less visible than the surface fleet.

But since 2020, it has been more frequently making its presence known in the North Atlantic and nearby seas, particularly around Norway and other NATO allies. Part of this reflects increased cooperation between Norway, the US, and other NATO partners.

Deliberately revealing submarine the locations of submarines also signals to Russia that American submarines are active in waters nearby, and it does so at a time when Russian subs are increasingly active in the Atlantic and even off US shores. The boomers also notably send a nuclear deterrence message.

The US has also made similar revelations in other parts of the world with its Ohio-class cruise missile submarines, which carry 154 land-attack Tomahawks.

Russia, too, is often intentional with how and when it reveals the movements of its subs, particularly its Severodvinsk-class submarines, which have concerned NATO officials for years now.

Russia made a show of having one of these vessels, the first-in-class Severodvinsk, surface off Norway in July 2022, and another one of these submarines, the Kazan, was spotted in Cuba earlier this month during a five-day official visit. Other Russian vessels, such as the Admiral Gorshkov frigate, joined the Kazan during the visit ahead of an air and maritime exercise in the Caribbean.

• I renovated a secluded chalet near Lake George, New York, and turned it into an Airbnb.
• Peel-and-stick wallpaper was easy to apply, and white paint gave the house an instant glow-up.
• Painting kitchen cabinets and changing their hardware updated the room for less than $100.

For the first few summers of our relationship, my husband and I took an annual camping trip to Hearthstone Point.

Situated right on the shores of upstate New York's stunning Lake George, we'd spend a few (dirty and slightly smelly) days enjoying morning swims and evening campfires.

We loved it and would fall asleep dreaming about what it would be like to own a house there one day.

Ten years later, I was scrolling Zillow and saw the most idyllic chalet for sale in our favorite part of Lake George — Bolton Landing. Even though the listing photos were bad, I saw its potential right away. Within a few days, the house was ours.

After closing, we got straight to work. Peeling back the distracting patterns, ornate fabrics, and dowdy furniture let the house sing.

Three months of backbreaking work revealed what is now known as Trout Landing, a four-bed, three-bath chalet situated on 6+ acres less than a mile from the lake, which we rent via Airbnb and VRBO.

We spent thousands and flexed our HGTV muscles in every corner of that house, but looking back, I'd say these five cheap upgrades made the biggest difference.

Peel-and-stick wallpaper adds personality to any space

Peel-and-stick wallpapers couldn't be easier to install, and the busy patterns are extremely forgiving of uneven walls.

Wallpaper helped us create the perfect accent wall in two of the house's four bedrooms, which would've been boring white boxes otherwise.

The diverse range of patterns available ensures there is something to suit every taste, every room, and every home.

NuWallpaper's Farmhouse Plaid and RoomMates' Twig Hygge Herringbone were both less than $30 a roll and drastically changed the vibe in the house.

When a full kitchen reno isn't in the budget, paint your cabinets and change the hardware

According to HomeAdvisor, the average cost of a kitchen remodel in 2023 was $26,930, which just wasn't in our budget.

Knowing how important a nice kitchen is when selecting an Airbnb, we made the cost-effective decision to paint the cabinets and change the hardware.

Although it was a lot of work, the kitchen really felt like a new room when we were done.

Playing off the house's wooded location, we chose Behr Dynasty's aptly named North Woods (less than $55 per gallon), and matte-black metal handles from Gliderite, which modernized the space for less than $2.50 each.

A fresh coat of white paint is an instant facelift for an old house

I'm all for a good painted accent wall, and throughout the house, we used moody greens and blues to do just that. But most of the walls were still a dingy off-white, which made the whole place feel dirty.

So, we painted over them with Behr Dynasty's Statement White. It cost us less than $55 per gallon, and we used about one per room.

A fresh coat of paint gave the house an instant glow-up.

Installing cool light fixtures is a great way to distract from popcorn ceilings

We didn't have the budget to smooth the dated popcorn ceilings — HomeAdvisor notes this can cost upwards of $3,000 and is a difficult and messy process.

But truthfully, once our vintage ceilings were adorned with modern fixtures, the popcorn almost seemed to disappear.

My favorite change was replacing the outdated ceiling fan in the living room with a wooden "chandelier"(Amazon Moujoe Wood Chandelier, $130).

We also replaced the house's dated stained-glass light fixture with a boring recessed light that immediately brought the space into modern times.

Feel like you're sleeping at a five-star hotel with crisp white linens

I worked in the hotel industry for many years, so I know how important a good bed is.

Luxury linens can be pricey — for example, the beloved Italian brand Frette has sheet sets starting at $1,500. I wanted to bring that hotel-level quality of sleep to my guests, but needed to do so in a way I could afford.

I spent a lot of time researching and testing bedsheets, duvets, and pillows for quality, durability, and price.

My picks? Costco's Kirkland sheet set ($80 for queen), Ikea's Fjällarnika duvet insert ($60 for queen), Amazon's ATsense duvet cover ($55 for queen), and the Sealy Elite Down Alternative Pillow from Kohl's ($16 each).