The Nvidia Corporation logo is seen at the annual Computer Showcase in Taipei, Taiwan, May 30, 2017.
Xiao Tailong | Reuters
Global semiconductor stocks were volatile on Tuesday after shares plunged. Nvidia during the last session.
Shares of European and Asian chip companies fell broadly as investors reacted to Nvidia losing more than $500 billion in market value in three trading days, although shares of the U.S. chipmaking giant were up about 3% in early trading on Tuesday.
in Europe, ASMLShares of the Dutch chip equipment giant were down about 0.5% as of 10:45 a.m. ET on Tuesday, retreating from earlier lows. ASML is a major player in the global semiconductor market. The company makes and sells extreme ultraviolet lithography (EUV) machines, which are used by wafer makers to make integrated circuits.
Meanwhile, Switzerland-based semiconductor company STMicroelectronics‘ Shares fell 1.7%.
ASMIMeanwhile, it rose 0.4%, while soitek Nvidia shares rose 0.4% as the company’s shares recovered, reversing losses earlier in the day. Pan-European Stoke 600 down 0.3%.
Asian semiconductor stocks also experienced volatility. Taiwan Chip Corporation MediaTek Shares of Korean companies fell 1.8% Samsung down 0.3%.
British SemiconductorSamsung Electronics and SK Hynix, the world’s largest chipmakers, managed to shake off negative sentiment, rising 0.5% and 0.9% respectively.
Nvidia stock rebounds
Previously, Nvidia’s stock price fell sharply for three consecutive trading days. That’s up 13% from Thursday’s all-time high.
Nvidia closed down 6.7% on Monday, its second-largest decline this year, but shares began to rebound in early trading on Tuesday.
The company topped the list last week apple and Microsoft As the most valuable company in the United States, its market capitalization exceeds $3.4 trillion. As of Monday’s close, Nvidia’s market value has evaporated by more than $540 billion.
Nvidia says demand for its prized artificial intelligence graphics processing units (GPUs) remains high.
Companies including Microsoft, Google, Amazon, Oracleand Yuan is buying billions of dollars worth of chips to power its data centers and cloud services.
Later this year, Nvidia will begin shipping a next-generation artificial intelligence chip called Blackwell, which some analysts say could kick off another significant growth cycle for the chipmaker and its partners.
- CNBC’s Kif Leswing contributed to this report
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