The S&P 500 and the Nasdaq are getting dragged lower as Nvidia shares extend losses. The catalyst was the WSJ report saying that Alibaba developed a new AI chip to help fill Nvidia void in China.
The Chinese are of course trying to make their own AI chips given the interference from Trump’s adiministration. While Nvidia is falling, Alibaba shares are obviously rallying on this latest news.
This article was written by Giuseppe Dellamotta at investinglive.com.