The GraniteShares 2x Long NVDA Daily ETF (NVDL) closed down 4.04% to $69.37 on December 27th, as Nvidia's stock faced a 2.10% decline to $136.99 amid competitive pressures and geopolitical tensions. Nvidia's shares were pressured by the emergence of a Chinese startup, DeepSeek, which developed an AI model using Nvidia's H800 GPUs at a significantly lower cost, raising concerns about export restrictions and regulatory challenges. Additionally, Nvidia's dominance in the AI chip market is being challenged by companies like Positron and SambaNova, targeting the lucrative inference computing segment. The geopolitical landscape further complicates Nvidia's position, with U.S.-China tensions escalating over chip exports and China's retaliatory measures, including rare mineral bans and antitrust investigations.