Jan Frederik Slijkerman of ING wrote in a report that there is uncertainty about NVIDIA's ability to maintain its profit margins as tech giants develop their own chips. He pointed out that major customers like Microsoft, Alphabet, and Amazon are developing their own custom chips to help control AI infrastructure costs. He stated that, as a result, NVIDIA's pricing power may face more intense competition than in recent years, making it more difficult to sustain its currently high profit margins in the long term, even as the company expands into new business lines. NVIDIA fell over 1% in pre-market trading