AMD down 8pc, Nvidia nearly 5pc as China chip breakthrough report sparks US tech sell‑off

Chip rout deepens on circular funding and China competition fears

Asian chip stocks plunge 7.5% as China accelerates DUV production and Nvidia's $750B AI capex fuels concerns over unsustainable spending. China's DUV progress challenges Western chip dominance; AI capex doubts erode memory pricing power and force urgent IT budget strategy reassessment.