Key Takeaways Nvidia shares fell on Monday to snap a four-day winning streak following news that China's Huawei Technologies is developing a rival AI chip. The stock has pushed up against the upper trendline of a falling wedge pattern,

Nvidia stockholders will be hoping Meta and Microsoft stick to, or even raise, their guidance for capex and signal they will continue investing in AI data centers.

Chinese tech giant Huawei is reportedly ready to test a new artificial-intelligence chip to compete with Nvidia — but the U.S. chipmaker shouldn’t be too concerned, according to one analyst. Huawei is looking to test its Ascend 910D chip with fellow homegrown tech companies and is expected to get its first samples of the chips next month,