Nvidia and Tech Peers Experience Downturn in Stock Market

On Thursday, shares of Nvidia Corp (NVDA) observed a decline in their trading value, alongside the stock of industry peer Advanced Micro Devices, Inc (AMD) and that of a vital partner, Taiwan Semiconductor Manufacturing Company Ltd (TSM). All three tech entities saw a downturn in their stock performance.

AI Development and Safety Concerns

Microsoft Corp (MSFT) President Brad Smith downplayed the possibility of creating super-intelligent AI, or Artificial General Intelligence (AGI), within the upcoming year, emphasizing the importance of implementing safety measures during the development stages of AI technologies.

US Chip Manufacturing Independence

Nvidia's CEO Jensen Huang expressed that achieving U.S. independence from overseas chip manufacturing could take the country between ten to twenty years. Despite the U.S. trade restrictions, Huang emphasized Nvidia's commitment to maintaining its market presence in China, the world's largest market for semiconductors.

In further efforts to advance technological outreach, Nvidia has cemented its chip partnership with Amazon.Com Inc (AMZN) and liaised with Chinese specialists to support its self-driving vehicle projects. Looking ahead, Huang suggested that the realization of AGI might occur in as little as five years, given the rapid advancements in the field.

Stock Market Impact

The impact on Nvidia's stock price was significant, as shares fell by 3.25% to $465.74 during the last trading session on Thursday.

Nvidia, AMD, TSMC