Nvidia Shares Dip as Alibaba Develops New AI Chip to Reduce Reliance on U.S. Suppliers

Nvidia ($NVDA) shares slipped 1.7% after reports that Alibaba ($BABA) has developed a new artificial intelligence chip designed to reduce reliance on U.S. suppliers in China. The move highlights Beijing’s ongoing effort to build a self-sufficient AI supply chain amid U.S. export restrictions.

• Alibaba’s new AI chip is more...