Global semiconductor stocks traded volatile on Tuesday as share prices fell. NVIDIA During the last session.
Shares of semiconductor companies in Europe and Asia fell in early trading as investors reacted to Nvidia’s market capitalization dropping by more than $500 billion in three trading days, but some stocks recouped losses and the U.S. chip giant’s shares were up about 5.5% as of 11:40 a.m. ET on Tuesday.
Swiss-based semiconductor company STMicroelectronics‘The stock closed down more than 1.4%.
In Europe, ASMLASML, a Dutch semiconductor manufacturing equipment manufacturer, reversed the previous day’s decline and closed up 0.18% as Nvidia’s stock price recovered. ASML is a major player in the global semiconductor market, and manufactures and sells extreme ultraviolet lithography (EUV) equipment used by semiconductor manufacturers to manufacture integrated circuits.
SoytechOn the other hand, it fell 0.1%. Asumi It rose 0.6% after dropping in early trading. Stocks 600 It ended down about 0.3%.
Asian semiconductor stocks also had a volatile day. Taiwanese semiconductor company MediaTek Shares fell 1.8%, with South Korea’s Samsung down 0.3%.
TSMCThe world’s largest semiconductor manufacturer SK Hynix They rose 0.5% and 0.9%, respectively, escaping the negative sentiment.
Nvidia shares rebound
This comes after Nvidia’s shares plummeted for three consecutive days. That’s up 13% from Thursday’s all-time high.
Nvidia shares closed down 6.7% on Monday, their second-biggest drop this year, but the stock began to rebound early in trading on Tuesday.
The company said last week apple and Microsoft The company’s market capitalization exceeded $3.4 trillion, making it the most valuable company in the U.S. By the end of the day on Monday, NVIDIA’s market capitalization had fallen by more than $540 billion.
Meanwhile, Nvidia says demand for its vaunted AI graphics processing units (GPUs) remains high.
Companies including Microsoft, Google, Amazon, Oracleand Meta The company is buying billions of dollars’ worth of the company’s chips to power its data centers and cloud services.
Nvidia is set to start shipping its next-generation AI chip, called Blackwell, later this year, which some analysts say could spark a big new growth cycle for the chipmaker and its partners.
—CNBC’s Kiff Leswing contributed to this report.