(NASDAQ: INTC) stock is slipping again Wednesday. The chip company's share price was down 2.4% as of 2:40 p.m. ET, according to data from S&P Global Market Intelligence. Meanwhile, Nvidia stock was down 2.8%.

While there isn't any business-specific news pushing Intel stock lower today, the company's share price is dipping in conjunction with moves for Nvidia. The artificial intelligence (AI) leader is scheduled to report second-quarter results after the market closes today, and investors are feeling jittery ahead of the release.

Nvidia stock has been hugely influential in shaping valuations for semiconductor stocks and the market at large this year. The company's results will be used as a barometer to gauge overall demand in the AI space and could cause significant movement for Intel's valuation.

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Source Fool.com