There's no doubt that the hard-charging market recovery this year has been spurred on by recent advancements in the field of artificial intelligence (AI). The potential for widespread productivity gains resulting from generative AI has captured the imagination, lifting the companies best positioned to benefit from this trend.

With that as a backdrop, several of the biggest chipmakers suffered setbacks today. Nvidia (NASDAQ: NVDA) tumbled 3.5%, Broadcom (NASDAQ: AVGO) slumped 1.7%, and (NASDAQ: ASML) slipped 1%, as of 12:10 p.m. ET. Bucking the trend was Taiwan Semiconductor Manufacturing (NYSE: TSM), which initially fell before gaining 0.3%.

The catalyst that added volatility to these semiconductor stocks was additional rules imposed by the Biden Administration to further the export of high-performance processors to certain foreign countries.

Continue reading

Source Fool.com