Shares of Nvidia (NVDA) and Advanced Micro Devices (AMD) lost ground on Wednesday after chip stocks endured a rough patch with a global sell-off earlier in the week and reported delays in the launch of Nvidia’s new Blackwell chip.

However, recent losses could present an opportunity for investors to buy on dips, said analysts at Piper Sandler, who expect both chipmakers to benefit from the artificial intelligence (AI) boom.

No “significant” impact on Nvidia expected due to possible delay in AI chips

Nvidia told Investopedia on Tuesday that production at Blackwell was “on track” and would increase in the second half of the year, adding, “Beyond that, we do not comment on rumors.”

Analysts at Piper Sandler said they interpreted the company’s comments to mean that Nvidia “does not expect any significant impact or delay to the release timing of its Blackwell chip.”

Analysts said a delay in the Blackwell ramp could have an impact of about $1 billion on the October quarter and between $2 billion and $3 billion on the January quarter.

Nvidia may provide more information on the reported delays in its earnings report scheduled for August 28.

AMD is ready to increase its accelerator market share

Analysts at Piper Sandler called AMD a “top pick” for AI investors and stressed that the company also has upside potential, citing the company’s product leadership, a potential benefit from a Blackwell delay and the company’s positioning to benefit from recent challenges from Intel (INTC).

AMD could increase its market share in the accelerator market in the coming years as the company catches up with its competitors, analysts say.

Nvidia shares closed 5.1 percent lower at $98.95 on Wednesday, while AMD lost 1.2 percent to $128.67. But despite Wednesday’s losses, Nvidia shares have almost doubled in value since the beginning of the year. AMD shares have lost almost 13 percent in the same period.