Nvidia losing 50% of its value from its peak means it’s still a $3 trillion company. What if it loses 90%? Then it’s the size of Intel which we generally agree is an important part of the industry.

This seems correct because of the proportions, but a company that's valued at say 600 million isn't the same as a company coming from being valued at 6 trillion and landing on 10% of its value, because of the direction of the valuation. While the former is at 600 million ascending, the later is in a descending trend, which affects trust and momentum.