Nvidia Stock Touches $199.86 as Google, Startups Challenge Its AI Chip Dominance

Gate News message, April 20 — Nvidia's share price fell to $199.86 on Monday (April 19), marking a drop of less than 1%, as competition in the AI chip market intensifies. The stock closed at $199.48, down 0.79% on the day, though it remains above key moving averages.

Google is making a direct push into Nvidia's fastest-growing market by preparing to announce new tensor processing units (TPUs) at its Google Cloud Next conference this week, with a focus on inference—the process of running already-trained AI models. Major clients including Anthropic (1 million TPU contract), Meta, and Citadel Securities are adopting TPUs, while Abu Dhabi's G42 is also in discussions to access them. OpenAI has also expressed frustration with Nvidia's inference hardware and is exploring alternatives.

Meanwhile, AI chip startups raised $8.3 billion globally in 2026, putting the sector on track for a record year. South Korean startup Rebellions, backed by Samsung, raised $400 million at a $2.34 billion valuation, bringing its funding to $650 million in the past six months alone. The company's Rebel100 chip is designed specifically for inference tasks and targets U.S. customers ahead of a planned public listing.