Corrects in the third paragraph Goldman Sachs' price target. 

NEW YORK (TheStreet) -- Nvidia (NVDA) - Get Report plunged after Goldman Sachs downgraded the graphics card and chip maker. eBay (EBAY) - Get Report advances following its appointment of two new directors, ahead of its PayPal spinoff. IBM (IBM) - Get Report rises after striking a partnership with China to aid that country's technology expansion.

Nvidia fell 3.2% to close at $22.71.

The chip and graphics card maker took a hit after Goldman Sachs downgraded the company to sell from neutral. Goldman Sachs also set a price target of $20 on Nvidia.

In making the change, Goldman Sachs warned that Nvidia faces a potential "licensing cliff." Back in 2011, Nvidia and Intel struck a licensing agreement as a result of a patent infringement dispute, according to a Barron'sreport. The six-year deal is worth $1.5 billion, but it is not clear whether Intel will renew the license in 2017.

If the license is not renewed, Goldman Sachs expects Nvidia's income statement to feel the effects in its fiscal first quarter 2018. The Goldman analyst also noted the odds are low that Intel would renew the licensing agreement because the chip giant has a right to the agreed-upon patents for an indefinite period.

eBay rose 1.2% to end the session at $58.62.

The e-commerce giant received a lift after appointing two new board members ahead of its PayPal spinoff. Tony Bates, the newly minted president of GoPro (GPRO) - Get Report, was named to eBay's board, along with Gail McGovern, the American Red Cross CEO.

Both Bates and McGovern will sit on the 17-member eBay board, as will Jonathan Christodoro, who received his director's seat as part of an agreement between eBay and its activist shareholder Carl Icahn. eBay directors Richard Schlosberg, a member of the board for 11 years, and William Ford, a director for 10 years, will not be seeking another term on the board at the May shareholders meeting, according to a Forbesreport. After the meeting, the board will go back down to 15 members.

eBay is slated to spinoff its e-commerce company PayPal during the second half of the year. "The appointments of Tony and Gail to the board represent our commitment to adding highly qualified independent directors in preparation for creating two world-class boards," John Donahoe, eBay CEO, said in a statement.

IBM climbed 1.1% to close at $164.63.

Big Blue inched up after announcing it would share its technology with China, in a move to expand that country's technology industry, according to a Reutersreport.

IBM's CEO Virginia Rometty told attendees at the China Development Forum in Beijing that Big Blue will work with other Chinese companies to build out the region's technology industry, rather than view it as a market for sales or as a manufacturing site, according to Reuters.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.