Nvidia Stock Takes a Hit Amid Huawei's New AI Chip Release
ByAinvest
Monday, Apr 28, 2025 4:56 pm ET1min read
NVDA--
Nvidia's stock price declined 2.14% due to new competition from Huawei's Ascend 910D AI chip. Huawei plans to ship over 800,000 units, targeting major players like state-owned telecom companies and ByteDance, the parent company of TikTok. Nvidia faces challenges including US export restrictions and reports of illegal chip smuggling into China. Despite this, the company remains forward-looking in advancing its technology portfolio. Nvidia's strong financial health and revenue growth are highlighted by its robust valuation, with a market capitalization of $2.65 trillion USD and a P/E ratio of 36.97.
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