Nvidia Stock Dips as OpenAI Signals Interest in Alternative AI Chips

Nvidia shares slipped about 2.9% after OpenAI reportedly signaled interest in alternative AI chips and rumors of Nvidia pausing a $100 billion investment; OpenAI CEO Sam Altman and Nvidia’s Jensen Huang denied the claims, while OpenAI seeks GPUs with more built-in SRAM to speed inference, putting Cerebras and Groq in the spotlight. Despite the chatter, analysts are bullish on Nvidia’s long-term prospects, with a Strong Buy consensus and an average price target of $262.79 (roughly 41.6% upside), as NVDA remains a dominant force in AI training and inference.