NVIDIA Corporation (NASDAQ: NVDA) shares rose only 0.8% on Monday, underperforming the broader semiconductor sector.
The move came as the Philadelphia Semiconductor Index gained 3.2%. Nvidia also lagged major chip rivals. Advanced Micro Devices Inc. (NASDAQ: AMD) climbed 7.7%, while Broadcom Inc. (NASDAQ: AVGO) rose 4.4%.
The weaker performance followed a report that raised concerns about possible delays in Nvidia’s next-generation AI server systems.
Report Raises Rack Delay Concerns
Supply chain research firm SemiAnalysis claimed in a weekend report that Nvidia’s upcoming Kyber NVL144 rack architecture could be delayed until 2028.
The firm said the delay may be linked to manufacturing challenges involving the system’s PCB midplane.
Nvidia quickly pushed back against the claims. A company spokesperson told Investing.com that “our roadmap is intact.”
SemiAnalysis Points to More Design Issues
The report also claimed that Nvidia had cancelled an alternative back-to-back rack design after resistance from large cloud customers.
In addition, SemiAnalysis said Nvidia had reduced part of its upcoming Rubin Ultra platform. The firm claimed that an important four-die configuration had been removed from the plan.
These claims have not been confirmed by Nvidia.
Asian Tech Suppliers Sell Off
The report triggered pressure across several Asian technology suppliers.
Investors took profits after strong year-to-date gains in many AI-related names. Japan’s Ibiden Co., a printed circuit board maker and major Nvidia supplier, fell 8.4% by the close.
Hong Kong-listed Kingboard Laminates Holdings Ltd. dropped 12.6%, while South Korea’s Samsung Electro-Mechanics Co. lost 8.1%.
Analysts Debate Nvidia’s AI Roadmap Risk
According to analysts cited by Bloomberg, any technical setbacks could limit the scale-up potential of Nvidia’s future AI hardware.
Such concerns could give rival platforms more room to compete. These include AMD’s MI500X and custom AI chips backed by Broadcom.
However, not all analysts are worried.
Mizuho Analyst Calls Delay Fears “Noise”
Mizuho analyst Jordan Klein dismissed the delay concerns in his daily “Tech Bytes” note.
Klein described the product delay reports as “more noise” and said he would not be worried about Nvidia or look to sell the stock.
He also pointed to strong earnings from Hon Hai Precision Industry Co. Ltd., one of Nvidia’s major suppliers. Hon Hai management forecast continued growth in AI demand, which Klein said was a positive signal ahead of Nvidia’s new Vera Rubin rack launch.
AI Stock Sentiment Remains Fragile
Nvidia’s muted session shows that investors remain cautious after the huge rally in AI stocks.
The broader AI trade has become more sensitive to headlines. Last week, reports about Meta Platforms’ AI spending plans caused sharp moves across the technology sector.
The reaction to the unconfirmed supply chain report suggests that investor confidence is still fragile.
With Nvidia’s valuation priced for strong execution, even small doubts about its product roadmap can make traders pause. That remains true even when the company denies the claims.
