Semiconductor stocks fall with Nvidia, AMD leading decline as Intel unveils new Xeon chips
sankai

Semiconductor stocks fell on Wednesday, along with the broader stock market, paced by declines in Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) as Intel (NASDAQ:INTC) unveiled a new offering aimed at its two competitors in high performance computing.
Nvidia (NVDA) fell 5.5% to $137.95 in mid-day trading, while AMD (AMD) declined more than 6% to $59.96. Intel (INTC) dropped 3% to $27.57 as it unveiled its new Sapphire Rapids Xeon CPU for high performance computing, along with its Ponte Vecchio GPU for the data center.
The new chips are set to arrive early next year, Intel (INTC) said. 
One day after rallying on back of strong third-quarter results, GlobalFoundries (GFS) fell 1.5%, while competitor Taiwan Semiconductor (NYSE:TSM) saw fractional gains.
On Wednesday, it was reported that Taiwan Semiconductor (TSM) was planning another multibillion-dollar factory investment in Arizona.
Taiwan Semiconductor (TSM) is already constructing a plant in Arizona that is slated to be operational in 2024.
Among other notable decliners in the semiconductor industry were NXP Semiconductors (NXPI), which dropped more than 4%, while ON Semiconductor (ON) was off nearly 5%. 
Seeing more modest declines were Micron Technology (MU), Skyworks Solutions (SWKS) and Qorvo (QRVO), all of which were down between 2% and 3%.
Texas Instruments (TXN) and competitor Analog Devices (ADI) fell roughly 1.5%, while Qualcomm (QCOM) was off 1.8%.
Late last month, Intel (INTC) successfully spun off its subsidiary Mobileye (MBLY), selling $861M in an initial public offering.