Semiconductor Slump: AI Chip Competition Sends Nasdaq Tumbling
Published on: July 7, 2026, 9:46 p.m. | Source: Devdiscourse
The Nasdaq experienced a decline of over 1% due to falling semiconductor stocks, including Nvidia, amidst skepticism about the AI-driven rally. Chinese startup DeepSeek's push to develop an AI chip contributed to the downturn. The Philadelphia SE Semiconductor index saw significant losses, with concerns around the AI infrastructure spend.
