Tech stocks were volatile on Wednesday as renewed US-Iran tensions and a debate over a potential artificial intelligence bubble pressured the sector.
The Nasdaq Composite (^IXIC) fell 0.8%, led by a decline in software stocks.
AI memory chip stocks extended losses on Wednesday after selling off the day before. A Reuters report that China's DeepSeek is developing its own artificial intelligence chip weighed on the sector, as did concerns about sustaining AI demand, despite Samsung's impressive quarterly results.
Broadcom (AVGO), however, jumped over 4% after inking a multiyear, $30 billion chip deal with Apple (AAPL). The company will design and produce custom silicon and other components for Apple products as part of the iPhone maker's push to shore up its US manufacturing program.
The chip trade will get another catalyst this week, as Samsung rival SK Hynix (000660.KS) is scheduled to begin selling American depositary receipts (ADRs) soon, launching a US listing for the world's top supplier of high-bandwidth memory.
The Nasdaq Composite (^IXIC) fell 0.8%, led by a decline in software stocks.
AI memory chip stocks extended losses on Wednesday after selling off the day before. A Reuters report that China's DeepSeek is developing its own artificial intelligence chip weighed on the sector, as did concerns about sustaining AI demand, despite Samsung's impressive quarterly results.
Broadcom (AVGO), however, jumped over 4% after inking a multiyear, $30 billion chip deal with Apple (AAPL). The company will design and produce custom silicon and other components for Apple products as part of the iPhone maker's push to shore up its US manufacturing program.
The chip trade will get another catalyst this week, as Samsung rival SK Hynix (000660.KS) is scheduled to begin selling American depositary receipts (ADRs) soon, launching a US listing for the world's top supplier of high-bandwidth memory.
22 days ago
