By TradingView
Publication Date: 2026-04-21 17:57:00
Shares of Nvidia edged lower on Tuesday, even as broader investor confidence in artificial intelligence demand remained intact, and the stock hovered near record levels.
The chipmaker’s shares fell about 1.2% in afternoon trading, despite a strong recent rally that has seen the stock gain roughly 15% over the past month. Nvidia is now approaching its record closing high of just over $207, reached in October last year.
The modest pullback comes amid rising competitive concerns, particularly following reports that Google is preparing to unveil a new generation of its in-house artificial intelligence chips.
Google’s TPU push raises competitive questions
Investor attention has turned toward Google’s tensor processing units (TPUs), which are expected to be showcased at the company’s Cloud Next conference this week, according to Bloomberg.
TPUs represent one of the most significant competitive threats to Nvidia’s dominance in AI chips to date. However, Nvidia executives and analysts have largely downplayed the risks, pointing instead to the company’s technological lead and entrenched ecosystem.
“With significant barriers to entry created by its CUDA software stack, we see limited competitive risks and expect Nvidia to continue to dominate one of the fastest-growing workloads in cloud and enterprise,” KeyBanc analyst John Vinh wrote in a research note on Monday.
Vinh reiterated an Overweight rating on Nvidia, with a price target of $275, underscoring continued…
