Nvidia (NVDA) stock traded flat Monday as market turmoil pressured shares of chipmakers, overshadowing AI chip news during the Computex Taipei tech expo.

Stocks recovered from earlier losses late Monday morning to trade down slightly after Moody’s lowered the US credit rating, raising concerns over the country’s fiscal stability as federal debt grows. The market was also under pressure after Treasury Secretary Scott Bessent warned that the Trump administration could keep tariffs at their originally planned “reciprocal” rates after a 90-day pause if the US doesn’t reach trade agreements with other countries.

President Trump unveiled unprecedented high tariff rates on a wide range of countries on April 2 before issuing the pause.

Nvidia fell as much as 3% before market open Monday, later paring losses. Its initial drop was mirrored by other chip stocks. The stock saw a big upswing last week, when shares gained 16% on optimism over the AI chipmaker’s business abroad.

Chip stocks were in focus Monday amid a wave of AI chip news during the Computex technology trade show in Taipei.

During the tech expo, Nvidia announced that it will allow its customers to build semi-custom AI servers with other companies’ AI chips alongside Nvidia’s own Arm-based CPU (a central processing unit, or more traditional computer chip) with its newly unveiled NVLInk Fusion technology.

More specifically, Nvidia said customers can build AI servers with custom AI chips known as ASIC accelerators from partners such as Marvell Technology (MRVL) and Alchip (3661.TW) — further opening up the AI chip market to smaller players while keeping Nvidia’s larger AI infrastructure offerings at the forefront.

Bank of America analyst Vivek Arya reiterated his Buy rating on the stock following the announcement.

Arya said Nvidia's presentation at Computex highlighted its “key differentiators” in the AI market: its ability to “expand its addressable market across multiple vectors of silicon, systems, software and services,” “drive scale with global supply-chain partners” (such as its recently announced partnership Saudi Arabia’s Humain), and its “solid balance sheet to make strategic investments in the ecosystem.”

Arya said the Computex announcements showed the chipmaker's “expanding portfolio" in what Nvidia has said is a multitrillion-dollar AI factory industry.

Nvidia is set to release its quarterly earnings results on May 28.

In other news at Computex, fellow chip firm Qualcomm (QCOM) said it's planning to release its own CPUs that can pair with Nvidia’s AI chips, and struggling chipmaker Intel debuted AI chips. Qualcomm shares fell less than 1% Monday.