Nvidia was edging down early on Tuesday as investors gauged the competitive threat posed by Qualcomm’s artificial-intelligence chips. Nvidia shares were down 0.1% at $191.33 in premarket trading. The stock rose 2.8% on Monday and is close to its record closing high of $192.57.

AMD (NASDAQ:AMD) shares gained more than 1% on Monday despite rival Qualcomm (NASDAQ:QCOM) outlining plans to target the AI data-center market, underscoring investor confidence in AMD's position in se...