Stock Market Today, Dec. 17: Broadcom Drops on China AI Chip Breakthrough and AI Buildout Uncertainty

Broadcom (NASDAQ:AVGO), which designs and supplies semiconductor devices and infrastructure software solutions, closed at $326.02, down 4.48%. Trading volume reached 73 million shares, coming in about 287% above versus its three-month average of 26 million shares.Wednesday’s trading reflected renewed concern about AI chip profitability and competitive threats from Chinese AI developments, and investors are watching how Broadcom manages margins alongside VMware integration and AI infrastructure demand. The S&P 500 (SNPINDEX:^GSPC) fell 1.15% to 6,722, while the Nasdaq Composite (NASDAQINDEX:^IXIC) lost 1.81% to close at 22,694. Among Semiconductors industry rivals, Nvidia (NASDAQ:NVDA) slid 3.81% and Intel (NASDAQ:INTC) dropped 3.38%, underscoring broad pressure on major AI-focused chipmakers.Rising competition from China had tech investors on their heels to start the day. It only got worse with reports that one private equity firm may not back an Oracle data center project as had been expected. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool