The tech industry has had an insatiable appetite for Nvidia’s chips over the last two years. But the feast may be over sooner than many had expected.

Stiffer competition for the tech giants at the forefront of the artificial intelligence boom prompted investors to reassess the companies’ sky-high valuations.

The fast-growing popularity of the Chinese artificial intelligence software hit shares in tech giants like Nvidia, as Silicon Valley worried about what comes next.

New rules aim to keep advanced technology out of China and to ensure that cutting-edge artificial intelligence is developed by the United States and its allies.

The tech industry is fighting new regulations, expected soon, that aim to keep the cutting-edge technology in the United States and allied countries.

The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.

© Photo Illustration by Blake Cale; Photographs by Philip Cheung; Haiyun Jiang; Carly Zavala; all for The New York Times; Jim Wilson/The New York Times

Amazon, Advanced Micro Devices and several start-ups are beginning to offer credible alternatives to Nvidia’s chips, especially for a phase of A.I. development known as “inferencing.”

© Spencer Lowell for The New York Times