Nvidia down after report Google, Intel, Qualcomm plan to battle chipmaker's AI dominance

** Shares of Nvidia NVDA drop as much as 1.4% to $932.3 premarket after Reuters reports that a coalition of tech companies plan to battle the chipmaker's AI dominance

** NVDA's shares last down 0.3%

** The coalition that includes Qualcomm QCOM, Alphabet-owned Google GOOG and Intel INTC plans to loosen Nvidia's dominance by going after the software that keeps developers tied to its chips

** More than 4 mln global developers rely on Nvidia's CUDA software platform to build AI and other apps

** UXL Foundation, a consortium of tech companies, plans to build a suite of software and tools that will be able to power multiple types of AI accelerator chips, executives involved with the group told Reuters

** UXL will court cloud-computing companies such as Amazon.com AMZN and Microsoft's MSFT Azure

** Venture financiers and corporate dollars have poured more than $4 bln into 93 separate efforts, according to custom data compiled by PitchBook at Reuters request; engineers plan to refine the technical details to a "mature" state by the end of the year

** NVDA rose 90% YTD as of last close, while it more than tripled in value in 2023