What's Going On With Nvidia Stock Thursday?

Nvidia Corp NVDA stock is trading lower Thursday as the company continues strategizing to beat the supply constraints, U.S. semiconductor sanctions on China, and the resurgence of rival Huawei Technologies.

CEO Jensen Huang recently concluded a busy five-day tour of India, focusing on business opportunities in the South Asian nation. 

During his visit, he discussed the potential for India to become a hub for artificial intelligence (AI) talent, chip production, and a market for Nvidia's products, Bloomberg reports.

Huang schedule in India was packed with meetings, including one-on-one discussions with Indian Prime Minister Narendra Modi about the AI sector. 

This strategic move comes as the U.S. tightens restrictions on exporting high-end chips to China, making India an attractive alternative. 

In August, Apple Inc's AAPL major suppliers in Taiwan experienced another substantial decline in sales, with total revenue dropping by 12.3% compared to the previous year, more profound than July's 9% drop. 

The ongoing slump in smartphones, laptops, and personal electronics sales has been a significant factor in this decline.

While many suppliers faced declining sales, companies involved in artificial intelligence hardware, like Quanta Computer Inc, saw a surge in demand.

Quanta, a significant partner of Nvidia, experienced a substantial increase in its share value due to rising demand for AI accelerators. Nvidia and Apple supplier Taiwan Semiconductor Manufacturing Co TSM encountered challenges in supplying Nvidia chips due to their advanced packaging requirements.

Price Action: NVDA shares traded lower by 2.33% at $412.55 premarket on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.