Nvidia, a leading AI chipmaker, fell 5% today, extending its losses to $800 billion since Monday amid cooling AI hype and rising competition from emerging players.

The decline reflects broader investor concerns over the sustainability of AI-driven growth, as market participants question lofty valuations in the tech sector.

Heightened competition from rivals like AMD—which recently secured key partnerships with OpenAI—and major tech giants developing their own AI chips, has prompted investors to reassess Nvidia’s market positioning. Fears of potential export restrictions continue to weigh on the company’s global supply chain outlook.