Nvidia stock (NVDA) fell again on Friday as a broader technology-sector selloff continued to pressure artificial intelligence stocks, leaving the chipmaker on track for its worst weekly performance in more than a year.
The stock declined about 1.5% to $192.35 in early trading. If losses hold through the close, Nvidia would finish the week down more than 9%, marking its steepest weekly decline since April 2025.
The latest pullback extends a difficult stretch for the company, which slipped below the psychologically important $200 level after recovering from an earlier decline in March 2026.
That support level broke earlier this week as concerns surrounding artificial intelligence spending and rising competition weighed on investor sentiment.
Tech selloff continues
The broader market was mixed on Friday as investors assessed ongoing weakness across technology stocks.
The S&P 500 traded around the flatline, while the Nasdaq Composite fell 0.3%. The Dow Jones Industrial Average was little changed.
Semiconductor stocks remained under pressure as investors continued reassessing valuations across the AI sector after several years of extraordinary gains.
The selloff comes amid growing debate over whether the pace of AI infrastructure spending can be sustained and whether the massive investments being made by technology companies will ultimately generate sufficient returns.
Investor sentiment was also affected by a New York Times report that OpenAI is considering delaying its initial public offering until next year.
According to the report, concerns about volatility in AI-related stocks and the recent performance of newly listed SpaceX are among the factors being evaluated.
The report contributed to weakness across AI-linked companies as investors reassessed enthusiasm surrounding some of the market’s most popular growth themes.
Competition concerns remain in focus
At the same time, Nvidia continues to face increasing scrutiny over its long-term competitive position.
While the company remains the dominant supplier of AI accelerators, investors have become increasingly focused on efforts by major technology firms to develop alternatives to Nvidia hardware.
Earlier this week, OpenAI and Broadcom unveiled a custom artificial intelligence chip called Jalapeño.
The processor represents OpenAI’s first internally developed AI chip and is intended primarily for inference workloads, which involve serving AI models to users through products such as ChatGPT.
OpenAI President Greg Brockman said the chip was developed with assistance from the company’s own AI models.
“The degree to which our models have been able to accelerate it was very surprising to us,” Brockman said during an interview with CNBC’s David Faber.
According to Brockman, the chip was designed from end to end in approximately nine months.
The announcement highlighted a broader industry trend as hyperscalers, AI laboratories, and major technology companies seek greater control over their computing infrastructure through custom silicon.
Nvidia still holds the lead
Despite growing competition, Nvidia remains at the center of the AI infrastructure market.
Its graphics processing units continue to power many of the world’s largest AI systems, and customers have already committed to deploying the company’s next-generation platforms.
However, investors are increasingly focused on whether Nvidia can maintain its dominant market share as custom chips gain traction and large customers diversify their hardware strategies.
For now, there is little evidence that Nvidia’s business has been materially affected.
Nevertheless, the combination of elevated valuations, questions around AI spending, and growing competition has made investors more cautious.
That caution has left Nvidia searching for support after slipping below the $200 level, with the stock now facing one of its most challenging weeks since the AI-driven rally began.
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