What's Going On Nvidia Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) lost a significant artificial intelligence chip order from Baidu Inc (BIDU) to Huawei Technologies Co due to the U.S. embargo on AI technology chips for China. Despite this, Nvidia's A100 and H100 chips have dominated the global AI chip market. However, recent reports suggest that Nvidia may lose orders worth over $5 billion in 2024 from China's leading AI and cloud-computing companies, including Alibaba Group Holding Limited (BABA).
November 07, 2023 | 3:15 pm
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NEUTRAL IMPACT
Alibaba is among the Chinese AI and cloud-computing companies from which Nvidia may lose orders worth over $5 billion in 2024.
The potential loss of orders from Alibaba to Nvidia does not directly impact Alibaba's stock price, but it does indicate a shift in the AI chip market dynamics.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Baidu ordered 1,600 of Huawei 910B chips for 200 servers in August, choosing Huawei over Nvidia.
Baidu's decision to order AI chips from Huawei instead of Nvidia does not directly impact Baidu's stock price, but it does indicate a shift in the AI chip market dynamics.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Nvidia lost a significant AI chip order to Huawei, and it may lose orders worth over $5 billion in 2024 from China's leading AI and cloud-computing companies.
The loss of a significant order to Huawei and the potential loss of orders worth over $5 billion in 2024 from China's leading AI and cloud-computing companies could negatively impact Nvidia's revenues and market share in the AI chip market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100