Nvidia Stock Drops as AI Chip Rivals Intel and Alphabet Aim to Dethrone Market Leader
- Nvidia stock fell 5% on Tuesday as AI chip competition intensifies
- Intel unveiled new Gaudi 3 chip to compete with Nvidia's top-selling H100
- Gaudi 3 projected to offer 50% better inference performance than H100
- Alphabet developing its own Axion chip to power Google's big data analysis
- Nvidia may retain advantage due to strength of its AI software ecosystem