"Meta's Latest AI Chip Raises Questions for Nvidia Amid Stock Market Turmoil"

Meta and Google's announcement of in-house AI chips poses a challenge to Nvidia's dominant position in the AI hardware market, potentially impacting Nvidia's soaring share price. The need for new AI chips arises from the massive computing power required by AI models, leading tech companies to develop their own chips to reduce reliance on outside designers and tailor hardware to their specific AI models. While Nvidia currently dominates the market, the emergence of in-house chips from major players like Meta and Google could loosen its grip and impact its valuation in the future.