Shares of NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) are up 5% in midday trading Monday, changing hands near $222 after the chipmaker unveiled its RTX Spark superchip at Computex 2026. The rally lifts NVDA stock well above Friday’s $211 close.
The opposite story is playing out at Qualcomm (NASDAQ:QCOM). QCOM stock is down 7% to roughly $234, with an intraday low of $227, as traders price in a direct hit to its Snapdragon X PC franchise. The setup is a clean winner-loser pairing inside the AI PC chip race, with NVIDIA’s Computex blitz absorbing the spotlight and Qualcomm’s own data-center brand launch getting pushed to the side.
RTX Spark Targets Windows on Arm
RTX Spark is a new NVIDIA superchip co-developed with MediaTek that runs Microsoft‘s (NASDAQ:MSFT) Windows on Arm‘s (NASDAQ:ARM) operating system. NVIDIA’s chip is a direct challenge Qualcomm in the Windows PC market.
NVIDIA CEO Jensen Huang’s framing on the most recent earnings call still applies. He called the current cycle “the buildout of AI factories, the largest infrastructure expansion in human history,” and RTX Spark extends that pitch onto the desk and into the laptop bag.
Qualcomm’s Dragonfly Gets Overshadowed
Qualcomm used Computex to unveil Dragonfly, its new AI data-center brand, and CEO Cristiano Amon pitched a vision for agentic AI with a 40x AI token surge by 2030. Stocktwits described the result bluntly, saying Qualcomm’s push was “overshadowed by Nvidia’s Computex blitz.”
The competitive math is straightforward. Snapdragon X has been the anchor for Windows on Arm PCs, and RTX Spark now drops into the exact same socket with NVIDIA’s GPU brand power attached. Qualcomm shares had run hard into the event, leaving little cushion when the headline risk hit.
However, the selloff is being read as competitive pressure rather than a thesis break. Qualcomm’s automotive segment grew 38% year over year last quarter to a record $1.33 billion, and management has flagged a hyperscaler custom silicon engagement with initial shipments later this calendar year.
NVIDIA’s Broader Computex Slate
RTX Spark is the headline, but NVIDIA stacked the agenda. Vera Rubin AI chips entered full production, and the company introduced DGX Station for Windows, a 1 trillion-parameter deskside supercomputer powered by its GB300 Grace Blackwell Ultra Desktop Superchip.
One headwind worth flagging: On May 31, the U.S. Commerce Department closed a loophole that had let NVIDIA and Advanced Micro Devices (NASDAQ:AMD) ship advanced AI chips to Chinese firms via overseas subsidiaries. That overhang sits in the background of today’s tape.
What to Watch
Investors can monitor the $220 level for NVIDIA shares today and throughout the week. The prediction markets price a 99% probability NVDA stock closes higher today, though conviction thins above $220.
For Qualcomm, the next defined catalyst is Investor Day on June 24, where management is expected to detail its data-center and physical AI roadmap. Watch for whether QCOM stock stabilizes ahead of that event or continues to decline on AI PC share concerns.
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