What’s Going On With NVIDIA Stock Tuesday

• Nvidia Corp (NASDAQ: NVDA) shares are trading lower Tuesday as Advanced Micro Devices, Inc (NASDAQ: AMD) shared plans to showcase its growth strategy and expanding product portfolio and capabilities for data center and AI at a June 13 livestreaming event.

• AMD Chair and CEO Dr. Lisa Su will detail new products and momentum across data center, AI, adaptive, and high-performance computing solutions.

• Also, Monday reports suggested that U.S. sanctions compelled the Chinese firms, including Alibaba Group Holding Limited (NYSE: BABA) and others, to execute their AI ambitions without the sophisticated American chips from Nvidia Corp (NASDAQ: NVDA) and AMD.

• So far, Nvidia has emerged as the top chipmaker capable of leveraging the ChatGPT wave backed by its higher focus on AI workloads from the cloud and enterprises till reports claimed AMD collaborating with Microsoft Corp (NASDAQ: MSFT) to develop the latter’s artificial intelligence chip. Microsoft denied the reports while acknowledging AMD as a great partner.

• Price Action: NVDA shares traded lower by 1.40% at $287.44 on the last check Tuesday.

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