AI chipmaker Nvidia is making headlines following a drop in shares from a record high and news of a technology deal with Middle Eastern telecom giant Ooredoo. Investors should take note of the bearish engulfing pattern in Nvidia shares, indicating a potential downside reversal after a significant price increase. Chart levels at $119 and $110 may provide support for the stock amidst minor pullbacks. The deal with Ooredoo will see Nvidia supply its AI technology to data centers in five Middle Eastern countries, giving clients exclusive access to cutting-edge services. This agreement comes at a crucial time as U.S. officials tighten control on advanced chip exports to prevent China from accessing sophisticated AI technology through the Middle East.