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AI Chip Stocks Pull Back from Rally

Updated 2026-05-12 16:35 UTC 1 source Negative

Qualcomm's stock dropped by 13% as chip stocks pulled back from a record AI-driven rally, signaling a broader market correction beyond the recent gains seen in companies like Nvidia.

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CNBC

Qualcomm drops 13% as chip stocks pull back from record AI-driven rally

The recent rally has shown a broadening of the AI trade beyond chipmaking giant Nvidia.

2026-05-12 16:10 UTC