Nvidia’s stock has been on a tear lately, but a “technical error” from a key production partner Tuesday drove the chip giant’s shares down 4.5%.
Dutch firm ASML, which makes much of the equipment used to manufacture high-tech AI chips, accidentally released its earnings a day earlier than anticipated due to the error. Those earnings were less than stellar, too.
That erased $155 billion from Nvidia’s market cap—more than the entire market value of AT&T. It was Nvidia’s steepest daily loss since a 10% drop last month, and other semiconductor firms also felt the impact: Advanced Micro Devices, Arm Holdings and Broadcom all fell at least 3.5%.
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