Nvidia Rallies Above Key Level, Despite Potential China AI Rival

The Nvidia stock comeback continued Tuesday despite a report that the chip giant faces a new challenger in China. Huawei is planning to roll out a new AI chip for the China market, which it said is comparable to Nvidia's H100, The Wall Street Journal reported, citing unnamed sources. Huawei plans to start to shipping the new AI chip in October, the report said. Nvidia (NVDA) introduced the H100 last year, but is barred from selling it directly in China due to U.S. sanctions. The Biden Administration has said it...