Watch These Nvidia Price Levels as Stock Slips on News of Chinese Rival's AI Chip

Watch These Nvidia Price Levels as Stock Slips on News of Chinese Rival's AI Chip

Nvidia shares fell on Monday to snap a four-day winning streak following news that China's Huawei Technologies is developing a rival AI chip. Monitor these key chart levels.

Nvidia leads chip stocks lower amid Huawei challenge and Big Tech earnings week

Nvidia (NVDA) led chip stocks lower on Monday after a report that Huawei is preparing to test its most powerful AI processor.

Mario Romero.- According to a WSJ media report, the Chinese firm Huawei is preparing its newest and most powerful artificial intelligence processor, hoping to replace some high-end chips products from the US manufacturer Nvidia. In the last time and despite the restrictions and efforts [...] The post Huawei develops a new advanced AI chip to compete against Nvidia processor as reported by WSJ first appeared on TransMedia.

22:26 Investors took a wait-and-see approach at the start of a busy earnings week. Nvidia fell after reports that Huawei is developing a new AI chip.

NASDAQ Gives Up Early Gains On Monday As Nvidia Sells Off On Huawei AI Competition

Huawei hints that new AI chip will be ready for testing in late May. The Ascend 910D processor is designed to compete with Nvidia’s H100, a popular AI chip. NASDAQ sheds weight despite optimism over coming Microsoft, Apple, Amazon and Meta Platforms earnings. Longer-term support for NVDA might be as low as $76. The NASDAQ Composite index is bowing to pressure from Nvidia (NVDA) stock on Monday as the latter succumbs to renewed pressure out of Ch…