After a stretch of underperformance, Nvidia’s stock could come alive after earnings, upcoming industry events and the expected launch of new AI models by companies using its Blackwell chips.

To account for this, Nvidia bought Groq (no, not Grok), the AI chips startup reportedly eyed by OpenAI, in its largest purchase ever. Then, last month, Nvidia unveiled its new Rubin platform, with a presentation that boasted inference and memory bandwidth wins.

What was pitched as the biggest computing project in history is now facing delays, internal skepticism, and growing competitive pressure.

Nvidia Corp. Chief Executive Officer Jensen Huang said that the massive build-out of artificial intelligence capacity, which is currently straining the power grid in many locations, will eventually lead to cheaper energy costs.

Nvidia stock fell more than 3% on Tuesday, extending losses from the previous session, as investors weighed growing scrutiny around the chipmaker’s closely watched partnership with OpenAI.

Micron is an industry leader in high-bandwidth memory (HMB) chips.

We will invest a great deal of money,” Jensen Huang said, while clarifying that Nvidia’s potential $100 billion investment was “never a commitment.”