Nvidia stock was sliding on Thursday as a business partner’s weak outlook took some of the shine off President Trump’s artificial intelligence announcements. Shares were down 1.8% to $144.50 in premarket trading.

Nvidia (NVDA) is leading the artificial intelligence (AI) revolution. The company’s graphics processing units (GPUs) are deemed essential to develop and deploy generative AI applications and large language models (LLMs).

Nvidia stock jumped Wednesday, extending gains from the prior day following Trump’s announcement of a massive, $500 billion AI infrastructure project called Stargate. The project will be funded by Oracle,

Chipmaker Nvidia (NASDAQ:NVDA) is at the forefront of all things AI these days. Its chips are used to help power the AI revolution. Many quantum computing stocks exploded in value last year as investors hoped to get ahead of the crowd in what could be a transformational wave of new technology.