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16 handpicked stocks

AI Chip Stocks Face Nvidia Deal Uncertainty Risks

Nvidia has disclosed uncertainty regarding its $100 billion investment in OpenAI, creating a potential opening for competitors. This theme focuses on rival chipmakers, like AMD, who stand to gain market share from this development.

Author avatar

Han Tan | Market Analyst

Published on November 20

Your Basket's Financial Footprint

This basket's total market capitalisation is 6,602,707.34 and is heavily concentrated, with the top two holdings comprising roughly 86% of the total. Large-cap holdings anchor its profile, implying greater stability but concentrated exposure.

Key Takeaways for Investors:
  • Large-cap dominance generally implies lower volatility and closer tracking to broad-market performance, suggesting reduced downside risk.
  • Use as a core holding for diversified portfolios, not as a speculative, high-growth allocation.
  • Expect steady, long-term appreciation potential rather than short-term explosive gains; outcomes are not guaranteed.
Total Market Cap
  • NVDA: $4.53T

  • TSM: $1.16T

  • ASML: $398.47B

  • Other

About This Group of Stocks

1

Our Expert Thinking

Nvidia's uncertain $100 billion OpenAI partnership has created a significant shift in the AI chip landscape. This uncertainty signals that major AI developers are actively diversifying their hardware suppliers to reduce reliance on a single dominant provider. We believe this creates opportunities across the entire semiconductor value chain, from chip designers to manufacturing equipment providers.

2

What You Need to Know

This group spans the complete semiconductor ecosystem - from direct Nvidia competitors like AMD and Intel, to foundries like TSMC that manufacture chips for multiple players, to equipment makers like ASML that enable advanced production. The theme captures both established giants and emerging players positioned to benefit from a more distributed AI hardware market.

3

Why These Stocks

Each company was selected based on their strategic position to capture market share as AI leaders seek to de-risk their supply chains. AMD's confirmed OpenAI contract exemplifies this trend, whilst foundries and equipment manufacturers stand to benefit from increased competition and diversification across the entire AI infrastructure sector.

Why You'll Want to Watch These Stocks

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Market Power Is Shifting

Nvidia's uncertain OpenAI deal signals a major rebalancing in AI hardware. Competitors like AMD are already securing confirmed contracts, suggesting the landscape is becoming more competitive and distributed.

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Supply Chain Diversification Trend

Major AI developers are actively seeking to reduce reliance on single suppliers. This creates clear opportunities for foundries, equipment makers, and alternative chip designers positioned to capture this demand.

Execution Risk Becomes Opportunity

Nvidia's disclosure of deal uncertainty highlights execution risks in high-stakes AI partnerships. Companies with proven track records and confirmed agreements are now better positioned to win market share.

Get the full story on this Basket. Read our detailed article on its risks and potential.

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