Nvidia Shares Close at $199 Amid AI Competition

Nvidia shares closed at $199 on Tuesday, down 1 percent from the previous session, as the semiconductor giant navigated a modest pullback amid heightened competition in the artificial intelligence chip market. The stock, which rallied 18 percent during a 10-day winning streak earlier in April, remains up more than 5 percent year to date and trades below its 52-week high of $212.19, reflecting sustained investor interest in Nvidia's role as the leading provider of graphics processing units for AI infrastructure.

The company's financial performance underscores robust demand for its products. In the fourth quarter of fiscal year 2026, Nvidia reported revenue of $68.13 billion, a 73 percent increase from the prior year, with data center revenue reaching $62.31 billion, up 75 percent. Data center networking surged 263 percent during the period. Nvidia exceeded earnings per share estimates across all four quarters of the fiscal year, delivering $1.62 in the most recent quarter against a consensus of $1.52. Free cash flow for the full year totaled $96.58 billion. For the first quarter of fiscal 2027, management guided revenue to approximately $78 billion, excluding any contribution...