BUZZ-Nvidia down after report of weak China demand for new AI chip
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Nvidia's stock fell 1.4% to $175.24 following a Reuters report indicating weak demand for its new RTX6000D AI chip in China. Major tech firms are reportedly hesitant to place orders due to regulatory uncertainties, including an anti-monopoly probe and shipment delays of another AI chip. Despite the decline, Nvidia's stock is up approximately 30% year-to-date, outperforming the Nasdaq's 16% rise, and is currently trading at a forward PE of 31, below its 5-year average of 39.
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