Nvidia (NASDAQ: NVDA) first disclosed a stake in fellow semiconductor company Arm Holdings (NASDAQ: ARM) in the fourth quarter of 2023. The position was valued at $147 million at the time, but a recently filed Form 13F shows the position is now worth more than $280 million and accounts for about 65% of Nvidia's $433 million stock portfolio.

Amazon is reportedly working on its own AI processor to lessen its reliance on NVIDIA for AI chips. The initiative will also add pressure on Nvidia, which dominates the AI chip business. The e-commerce giant is reportedly getting ready to debut its AI chips and this comes as Amazon is attempting to claim a fair

Amazon reportedly will manufacture its own artificial intelligence chips. That will put it in competition with AI darling Nvidia.

Semiconductor company Nvidia (NASDAQ: NVDA) has seen its share price increase nearly 1,000% since the launch of ChatGPT in late 2022. Specifically, Nvidia dominates the market for data center graphics processing units (GPUs) and accounted for 98% of shipments last year.