Nvidia leads chip stocks lower amid Huawei challenge and Big Tech earnings week

Futuristic central processor unit. Powerful Quantum CPU on PCB motherboard with data transfers.

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Nvidia (NASDAQ:NVDA) led chip stocks lower on Monday after a report that Huawei Technologies is preparing to test its most powerful AI processor, which it hopes could replace some of Nvidia’s (NVDA) higher-end offerings.

Meanwhile, the benchmark S&P 500, the tech-focused Nasdaq

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