Nvidia shares fall 1.17% premarket after Abu Dhabi-backed G42 aims to diversify chip suppliers beyond Nvidia.

Nvidia Corporation fell 1.17% in premarket trading, with the company facing potential loss of business as Abu Dhabi-backed technology group G42 aims to diversify chip suppliers beyond Nvidia for the UAE-U.S. AI campus. The group is negotiating with major American technology firms, including Amazon's AWS cloud, Microsoft, Meta, and Elon Musk's xAI to become tenants at the data center, with Google the furthest along in negotiations. G42 is looking to chipmakers AMD, Cerebras Systems, and Qualcomm to supply some of the computing capacity at the campus.