Huawei is gearing up to launch its newest and most powerful artificial-intelligence processor, taking aim at U.S. chip giant Nvidia. Stephen 'Sarge' Guilfoyle, contributor on TheStreet Pro, explains why he’s stepping away from Nvidia (NVDA) amid shifting industry dynamics.

Nvidia shares led losses on the Dow and S&P 500 Monday afternoon following a report China's Huawei Technologies is preparing to test a rival AI chip.

Chinese tech giant Huawei is reportedly ready to test a new artificial-intelligence chip to compete with Nvidia — but the U.S. chipmaker shouldn’t be too concerned, according to one analyst. Huawei is looking to test its Ascend 910D chip with fellow homegrown tech companies and is expected to get its first samples of the chips next month,