Nvidia Loses 12.6% in June as AMD GPUs Win Turing Deal
NVDA•Nvidia shares fell 12.6% in June and dipped 1.39% after self-driving startup Turing announced AMD backing and adoption of AMD GPUs. Nvidia unveiled a new startup-focused AI compute service to monetize GPU usage from emerging companies while a 17% pullback from its record high suggests potential entry opportunity.
1. Turing Deal and GPU Competition
Self-driving startup Turing secured undisclosed funding from AMD and will deploy AMD GPUs for its autonomous vehicle training, leading Nvidia shares to fall 1.39% on July 5.
2. Stock Pullback Trends
Nvidia stock declined 12.6% in June and is off 17% from its May record high, marking one of several 15%+ corrections over the past five years that historically preceded sharp rebounds.
3. Startup AI Service Launch
Nvidia has introduced a startup-focused AI compute service, charging emerging companies for on-demand GPU access in a shift from pure hardware sales toward recurring software and service revenue.
4. Near-Term Outlook
While short-term headwinds emerge from GPU competition and market volatility, the new service model and past recovery patterns support a cautiously optimistic view on Nvidia’s performance.
