Nvidia Corp. shares fell as much as 1.7% in early U.S. trading on Friday after the Wall Street Journal reported that Alibaba Group Holding Ltd. is developing a new artificial-intelligence chip designed to fill what the paper called a "Nvidia void" in China. The report said the Chinese e-commerce and cloud-computing giant aims to provide an alternative source of advanced AI processors for domestic customers. Details on specifications or a launch timeline were not disclosed. Investors sold off Nvidia on the prospect of fresh competition in one of its most important growth markets.