Sometimes I wonder what it takes to win love and respect from investors. NVIDIA (Nasdaq: NVDA) had not one but two positive business catalysts today, yet the stock is trading down on a generally positive market day.

First, Advanced Micro Devices (NYSE: AMD) announced that it's going leaderless for a while, which could give NVIDIA an opportunity to pounce on unprotected weak spots in its graphics-and-processor rival. This alone should be enough to boost the stock by a couple of percentage points.

Next, Intel (Nasdaq: INTC) broke out the peace pipe -- along with a $1.5 billion check. Intel's press release focuses on the cross-licensing of technology patents. NVIDIA cares less about the patents; its headline points you right to the coming five years of steady cash payments. This outcome isn't a shock, but the size of the settlement should still be a positive surprise for NVIDIA investors.

So I don't know what's up with the sliding share price today. Granted, NVIDIA has nearly doubled over the last three months, and made a strong showing at last week's CES show. Perhaps we're just looking at some profit-taking now that the whole Intel litigation mess has been settled.

NVIDIA remains at a crossroads in its history. Its graphics chips for desktops and notebooks are becoming less relevant, replaced by Tesla supercomputing chips and Tegra mobile processors. One reason why CEO Jen-Hsun Huang merely shrugs at the Intel licensing stuff might be that he considers mobile chip producers Texas Instruments (NYSE: TXN), Qualcomm (Nasdaq: QCOM), and Marvell Technology Group (Nasdaq: MRVL) more direct rivals than Intel over the next few years.

But the license payments will help. So will AMD's lack of leadership.

Intel is a Motley Fool Inside Value selection. NVIDIA is a Motley Fool Stock Advisor recommendation. The Fool owns shares of and has bought calls on Intel. Motley Fool Options has recommended buying calls on Intel. The Fool owns shares of Marvell Technology Group, Qualcomm, and Texas Instruments. Try any of our Foolish newsletter services free for 30 days.

Fool contributor Anders Bylund owns shares of AMD, but holds no other position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.