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Nasdaq falls as DeepSeek chip push rattles markets
TradingView··8 Jul
The Nasdaq was set to open lower on July 7, 2026, as chip stocks declined after Reuters reported Chinese startup DeepSeek is developing its own AI inference chip. Nvidia fell about 1.8 percent in premarket trading on concerns the move could reduce reliance on Nvidia and Huawei chips. The Philadelphia Semiconductor Index dropped 5.5 percent to a four-week low.
Prism
What It Means For You
- Tech investors face volatility as AI chip dominance faces new competition.
- Retirement and mutual funds with semiconductor exposure may see short-term losses.
- DeepSeek's chip plans could affect global AI hardware supply chains.
What's Happening
- Nasdaq fell sharply on July 7 amid chip stock losses.
- Reuters reported DeepSeek is developing its own AI chip.
- Nvidia, Intel and Micron shares declined significantly.
Market Context
- Philadelphia Semiconductor Index hit a four-week low.
- Samsung's record profit failed to calm AI chip jitters.
- Investors question sustainability of the year-long AI rally.
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