Nvidia used to benefit from AI spending increases. So why did the stock just slide?

nvidia's stock slid despite the company being a direct beneficiary of rising ai spending. investors are now focused on the threat of more competition in the ai-chip market. the slide happened even as major tech companies continue to announce massive capital expenditure plans for ai infrastructure. the concern isn't about demand drying up — it's about nvidia's ability to keep its dominant market share as rivals like amd and custom chip efforts from cloud giants gain traction.