News of a Possible AI Chip Cap, ASML Sales Warning Hit Nvidia and Other Semi Stocks

Key TakeawaysNvidia and other chip stocks lost ground Tuesday, weighed down by a report that the Biden administration is considering caps on exports to certain nations.Bloomberg said the focus was on Persian Gulf countries that have growing interest in AI and the means to purchase the technology.Also weighing on the sector was a warning from chipmaker equipment company ASML Holding about non-AI demand. Nvidia (NVDA) shares fell from yesterday's all-time closing high, and shares of other chipmakers declined, ...