AI Trade Stumbles as Chip Stocks Slide

Bloomberg’s Ed Ludlow breaks down the selloff in chip stocks dragging the Nasdaq 100 near correction territory, after signs of progress in China's chipmaking add to worries about the sustainability of the AI spending boom. Plus, SpaceX shares erase a fifth of their value since the record-setting debut of Musk's company, as investors start to avoid riskier tech firms. And, Apple briefly becomes just the second company ever to achieve a $5 trillion market valuation.

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