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**Concerns About AI Cause Chip Stocks, Including Nvidia and Broadcom, to Decline**
On Thursday, Nvidia (NVDA) and other chip stocks fell as worries about the AI boom’s resilience surfaced.
Nvidia, the AI chip industry’s favorite, saw its stock price decline by more than 2%. Stocks of companies like Super Micro Computer (SMCI), Dell (DELL), and Micron Technology (MU) were impacted as a result.
Broadcom (AVGO) suffered an even bigger loss, falling more than 3% before its earnings release. This led to a 2% decline in the Philadelphia Semiconductor Index. Marvell Technology (MRVL) was severely impacted, falling 17% due to a bleak forecast. The tech-heavy Nasdaq also experienced the effects, falling 1%.
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A number of factors are putting pressure on the market, including ambiguity over the effects of new US tariffs, concerns about stricter chip export restrictions (particularly to China), and growing competition from Chinese businesses. Speaking of which, Alibaba (BABA) shares increased by about 1% after introducing a new AI model that they assert can compete with those from DeepSeek and OpenAI (the developers of ChatGPT).
Palantir (PLTR), another company that focuses on AI, saw its stock price decline by about 3.5%, wiping out Wednesday’s gains. Investors appear to be unsure as to whether Palantir’s software can truly assist in offsetting potential government spending reductions under a future Trump administration. Jefferies analysts highlighted significant insider selling, noting that CEO Alex Karp has been selling shares, selling another $45 million worth in the last two weeks after already selling over $2 billion in 2024.
With the exception of Nvidia, the remaining “Magnificent Seven” tech behemoths —Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), Tesla (TSLA), and Meta (META)—were mostly unchanged to slightly lower. Recently, Big Tech has experienced a bit of a rollercoaster, and significant indexes have erased all of their gains since the November presidential election.
