Global chip stock rout snowballs ahead of tech earnings

Price ActionIndustry Impact 4
โดย Reuters·Read original
Summary · why it matters

A global selloff in semiconductor stocks intensified on Tuesday amid growing concerns over rising competition and circular financing, ahead of critical earnings reports from major tech companies. U.S. chip giant Nvidia saw its shares drop sharply, partly on reports of another round of circular financing with OpenAI, while China's CXMT surged nearly 470% in its first-day IPO, unveiling a new chip giant ready to absorb investment funds. European tech leader ASML fell sharply on reports that Chinese firms are developing chipmaking technology that mimics its dominant offering. South Korea's SK Hynix saw its U.S.-listed shares fall below their recent debut price ahead of its quarterly update, and Seoul's KOSPI index plummeted nearly 11% to post its biggest daily loss in nearly five months, with rival Samsung Electronics also down sharply ahead of its own report this week. The selloff comes despite a further slump in oil prices below $90 per barrel amid a tense pause in the Iran conflict, and as the Federal Reserve begins a two-day policy meeting with markets pricing in a one-in-three chance of a rate hike.

Impact on stocks 4

Semiconductors▼ · 2 stocks
ASML Holding N.V.
ASML
▼ NegativeCompetitionrelevance

Fell on reports that Chinese firms are developing chipmaking technology mimicking its dominant offering.

SK Hynix Inc
000660
▼ NegativeCapitalrelevance

U.S.-listed shares fell below debut price ahead of quarterly update.

Artificial Intelligence▼ · 2 stocks
NVIDIA Corporation
NVDA
▼ NegativeCapitalrelevance

Shares fell on reports of circular financing with OpenAI and ahead of tech earnings.

Off-coverage companies 2

长鑫存储技术（ChangXin Memory Technologies / CXMT）Private▲ Positive
Capitalrelevance

CXMT surged nearly 470% in its first-day IPO, unveiling a new chip giant ready to absorb investment funds.

OpenAIPrivate± Mixed
Capitalrelevance

Mentioned in context of circular financing with Nvidia; not a public stock.

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