24H | Chip Stocks Fall With SOXL Tumbling 8%; Quantum, Nuclear, Crypto Stocks Drop
Chip stocks fell in overnight trading amid concerns over AI progress from China's DeepSeek. Huge earnings and the latest Federal Reserve meeting on tap.
Chinese AI lab DeepSeek released a powerful AI model that it claims cost just $6 million to build, using less-powerful chips. If true — or partially true — that could undermine demand for super-pricey AI chips and other gear.
SOXL fell 8%; Marvell, ARM, Nvidia fell around 5%; Broadcom, TSMC, Super Micro fell over 4%; Micron fell about 3%.
Big techs also slid in overnight trading. Tesla fell 2.88%; Meta fell 2%; Amazon, Microsoft, Apple fell over 1%.
Quantum shares slid in overnight trading. SEALSQ fell over 7%, Quantum Computing fell 5%; Rigetti Computing fell 4%; IONQ fell 3%.
Small cap energy stocks, nuclear stocks fell in overnight trading. NANO Nuclear Energy fell over 12%; NuScale Power fell 7.8%; Oklo fell 6.7%.
Crypto shares slid. Canaan, CleanSpark, Coinbase, MARA Holdings, MicroStrategy fell about 4%.
Robot stocks slid in overnight trading. Richtech Robotics slid over 11%; PALLADYNE AI, Nauticus Robotics fell 5%.
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