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Nvidia Corp (NASDAQ:NVDA) continues to make waves in the artificial intelligence (AI) chip market, even as Chinese tech giant Huawei Technologies Co faces significant challenges in its bid to compete.
Despite Huawei’s efforts to create a domestic alternative with its Ascend series, the company’s software, particularly the Cann platform, reportedly struggles to match the ease of use and efficiency offered by Nvidia’s CUDA platform, industry insiders reveal, the Financial Times reports.
Huawei, striving to compete against Nvidia’s well-established position, has taken proactive steps by dispatching engineers to assist clients like Baidu Inc (NASDAQ:BIDU), iFlytek, and Tencent Holding Ltd (OTC:TCEHY) in transitioning their systems from Nvidia’s CUDA to Huawei’s Cann.
Despite these challenges, Huawei has seen growing demand for AI chips, driven partly by supply constraints and the U.S. government’s tightened export controls on high-performance silicon.
Analysts remain optimistic about Nvidia’s future despite challenges with its new Blackwell chips, which are nearly double the size of their predecessors and face manufacturing issues impacting yields and margins. Wall Street projects third-quarter revenue and EPS of $32.50 billion and $0.73.
Nvidia stock gained 146% in the last 12 months, buoyed by the AI frenzy. Investors can gain exposure to the stock through Vanguard Information Tech ETF (NYSE:VGT) and iShares Russell 1000 Growth ETF (NYSE:IWF).
Price Action: NVDA stock traded down 7.65% at $110.24 at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
