Rivals Intel and Advanced Micro Devices (NASDAQ: AMD ) also just announced new AI microchips aimed at competing directly against Nvidia. The Rubin line of AI chips shows that Nvidia is taking the competitive threat posed by Intel, AMD, and others, seriously. Nvidia continues to control about three-quarters (75%) of the global market for AI chips. That dominant position has led to blockbuster financial results and a share price that has climbed more than 200% in the last 12 months.