Overview
- America’s largest AI-linked stocks shed roughly $1.2 trillion for the week, with the Nasdaq posting its worst weekly decline since the April tariff selloff.
- Nvidia fell about 7% for the week and saw nearly $500 billion in market value erased after reports of a move to block sales of scaled-down Blackwell chips to China.
- Jensen Huang said there were no active discussions to sell those reconfigured chips to Chinese customers, underscoring uncertainty over export rules.
- Michael Burry’s Scion disclosed big put positions on Nvidia and Palantir, a bearish signal that coincided with steep losses across high-profile tech names.
- Broader pressure hit Microsoft, Oracle, AMD, Palantir, Tesla and other members of the ‘Magnificent Seven,’ with investors eyeing Nvidia’s Nov. 19 earnings as the next key catalyst.