Nvidia's rally will run out of steam next year as the chip giant's customers become competitors, analyst says

Nvidia's impressive stock rally is predicted to falter as its major customers, including tech giants like Amazon and Microsoft, start developing their own AI chips, potentially turning into competitors. Analyst Gil Luria from DA Davidson forecasts a potential 20% drop in Nvidia's stock by year-end, citing inevitable long-term challenges and increased competition. Despite short-term gains and a recent surge in stock value driven by AI hype, Luria warns of a significant decline if the market's high expectations are not met.