Nvidia (NASDAQ: NVDA) hit record highs last month, with shares of the chipmaker jumping to $974 on March 8. But investors haven’t had much reason to cheer since then, as this red-hot stock has been cooling down ever since.
More specifically, Nvidia stock now trades just over 11% below that record high. Wall Street is worried that the stock’s bubble may have popped, and its artificial intelligence (AI)-powered growth could fizzle out thanks to intensifying competition in the market for AI chips. So it wasn’t surprising to see Nvidia stock retreat another 2% on April 9 following Intel’s (NASDAQ: INTC) launch of a new AI chip, which took direct aim at Nvidia’s hottest performers.
Let’s see if Nvidia investors have reason to worry following Intel’s latest move to target the fast-growing AI chip market.
Intel takes aim at Nvidia’s AI supremacy
Intel has been trying hard to sink its teeth into…
