Shares of Nvidia (NVDA -2.02%) were pulling back today as investors responded to a new threat facing the AI superstar.Just weeks after the company disclosed a write-off of as much as $5.5 billion due to new rules preventing exports of its H20 chips that were specifically designed for China, Nvidia now appears to be facing new competition out of China as Chinese tech giant Huawei is reportedly set to launch a new AI chip.As a result, Nvidia stock was down 2.6% as of 3:21 p.m. ET. Nvidia faces a new threatThe ...

Nvidia (NVDA) stock fell on Monday on media reports of China's growing ambitions in the artificial intelligence chip space.A Wall Street Journal report said Chinese chip designer Huawei Technologies is preparing to test its newest and most powerful AI processor, called the Ascend 910D. Huawei is slated to receive its first batch of the new chips as soon as late May from contract manufacturer Semiconductor Manufacturing International, known as SMIC, the report said. Huawei hopes its latest AI processor will ...

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