<ul><li>Nvidia's price-to-earnings ratio has dropped and is now lower than when ChatGPT launched in 2022.</li><li>The decline is due to a 30% decrease in Nvidia's stock from its 52-week high.</li><li>Melius Research remains optimistic about Nvidia and its upcoming conference.</li><li>Nvidia's valuation multiple is at its lowest level since August 2019, making it cheaper than when ChatGPT was released.</li></ul>

Nvidia's 30% sell-off makes it cheaper than when ChatGPT launched — at least by one metric

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