๐ NVDA slides 3%+ midday โ Chinese chip IPO soars 466%, rattling the whole semiconductor sector
Nvidia ($NVDA) is under pressure today, dropping over 3% as China's ChangXin Technology soared 466% on its $8.6B IPO debut, renewing fears that homegrown Chinese chipmakers are closing the gap. A Chinese state-backed firm also started mass-producing key chipmaking equipment, sending ASML down 4%+. The result: a broad semiconductor selloff dragging NVDA back below $200, even with MSFT, META, AAPL, and AMZN all reporting earnings this week. Do you buy this dip or wait for the big-tech prints to land? Not financial advice.
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