Nvidia stock was falling early on Monday. The chip maker looked to be weighed down by wider market moves and further reports of government pressure in China for local companies not to use its hardware.

A Melius Research analyst says “you still get some eye rolls when you reiterate this buy,” but the setup for Nvidia shares “is still pretty darn good.”

Management says the Blackwell architecture for its latest GPUs is much more energy efficient. Why demand for Nvidia's GPUs is likely to remain robust for the foreseeable future. Nvidia ( NVDA 1.69%) has been one of the best performing stocks the past few years,