Nvidia Slips on Apple's In-Cost Cloud Challenge

Nvidia's share price dipped by nearly 1.3% to $227.98 on Wednesday morning, as Apple pitched its Macs as a cost-effective solution for businesses with steady workloads or sensitive data.

The company demonstrated four connected Mac Studios running a trillion-parameter model to fix a coding bug without incurring cloud bills. This approach could appeal to companies that want to avoid recurring cloud costs and maintain control over their AI workloads.

Nvidia's latest quarterly results highlighted the scale of its dependence on data centers, which generated $89 billion of its total revenue of $96.2 billion, accounting for 92.5% of its income.