Nvidia shares fell on Monday to snap a four-day winning streak following news that China's Huawei Technologies is developing a rival AI chip. Monitor these key chart levels.

China’s Huawei Technologies has reportedly built a new AI chip it hopes will rival Nvidia’s (NVDA) products. Shares of the U.S. semiconductor behemoth have lost nearly 3% on the news today. According to anonymous sources that spoke with the Wall Street Journal,

Chinese tech giant Huawei is reportedly ready to test a new artificial-intelligence chip to compete with Nvidia — but the U.S. chipmaker shouldn’t be too concerned, according to one analyst. Huawei is looking to test its Ascend 910D chip with fellow homegrown tech companies and is expected to get its first samples of the chips next month,