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Investing.com -- Samsung Electronics stock plunged 7.4% to ₩232,000 on Tuesday pressured by a fresh and direct competitive threat from China, as well as a broader souring in sentiment towards chipmaking stocks.

Samsung clocked extended losses after China’s ChangXin Memory Technologies (CXMT) announced it expects to release a next-generation server memory module by year-end, built on a denser cell architecture that could erode the pricing power underpinning Samsung’s record profits.

The announcement landed just days after Samsung disclosed a preliminary third-quarter operating profit of approximately 107.4 trillion won — a staggering year-on-year surge — yet the market’s reaction has been decisively negative, as investors appear to be pricing in a future where Chinese competition compresses margins well before the current earnings cycle peaks.

Adding to the pressure, Morgan Stanley’s memory chip team had recently cautioned that semiconductor stocks historically begin to underperform

Investing.com -- Fermi Inc (NASDAQ: FRMI) shares jumped 13.2% in premarket trading Tuesday after the company announced a credit support agreement with AMD for its Project Matador AI infrastructure development in Carson County, Texas.

The agreement with Advanced Micro Devices Inc (NASDAQ: AMD) supports a lease for phase one of the project, which will deliver 222 megawatts of gross power capacity. The deal represents a key milestone toward securing project financing for the facility. The companies also signed a framework agreement for potential future expansion of up to 650 MW of gross power capacity.

The credit support agreement relates to Fermi's first customer lease, which was announced on August 10, 2026.

"We are thrilled to partner with AMD as we advance development at Project Matador," said Lee McIntire, Fermi Chief Executive Officer. "Our strategic partnership establishes a framework for phases two and three."

Mathew Hein, Senior Vice President and Chief Strategy Officer of Co

Investing.com -- Visa stock surged 1.4% in pre-open trading after the People’s Bank of China granted the company approval to begin formal preparations for establishing a domestic bankcard clearing institution in China, a development that ends years of regulatory waiting and opens the door to one of the world’s most expansive payments markets.

The PBOC issued the administrative approval to Visa Information Technology (Beijing) Co., Ltd., Visa’s foreign-invested legal entity in China, allowing it to commence preparatory work. Visa has up to one year to complete those preparations before it can apply for a full operating license to begin processing domestic transactions.

CEO Ryan McInerney welcomed the decision, stating: "The approval of our Application to Prepare marks a significant step forward in Visa’s long-standing commitment to China."

The move positions Visa to eventually join rivals Mastercard and American Express, which had already secured similar approvals in prior years, in

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Tech stocks plummeted on Tuesday after a Chinese memory chipmaker said it had made significant progress in developing new and more efficient designs.

ChangXin Memory Technologies, or CXMT, announced over the weekend it had made headway on new architecture which will increase memory density by packing more data into a smaller space.

The announcement spooked the market because CXMT is China’s leading rival to global memory makers including Micron, SK Hynix and Samsung.

And, until a recent blockbuster IPO, it was little known outside of its home market.

Micron was down 3.7% in premarket trading, while SK Hynix’s South Korean-listed shares closed 10% lower and Samsung Electronics fell 7.4%. Other memory-related stocks, including SanDisk, Seagate and Western Digital, were all lower.

CXMT leapt onto the global consciousness with its initial public offering in July.

The company soared nearly 466% in its debut on Shanghai’s tech-heavy STAR Market, making it the most valu

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BEIJING — U.S. credit card giant Visa announced Tuesday it had received approval from the People’s Bank of China for setting up a bank card clearing business in the country.

The news comes as the U.S. and Chinese presidents plan for their third meeting this year.

“This marks an important milestone toward the company serving China’s domestic payments market,” Visa said in a statement.

“For more than 40 years, Visa has been an active contributor to China’s dynamic payments landscape,” Visa CEO Ryan McInerney said. “We look forward to taking the necessary steps in the process, pursuant to the PBOC’s regulations, to begin operating domestically in China.”

McInerney joined U.S. President Donald Trump’s business delegation to Beijing in May and subsequently became chair of the U.S.-China Business Council in June. The Visa CEO also led a trip to Beijing in early September.

“The timing is notable,” said George Chen, partner and chair of digital practice, The Asia Group.

Investing.com -- Applied Materials shares fell sharply Tuesday after the semiconductor equipment maker declined to provide an industry spending forecast at its investor day, leaving investors to weigh its bullish artificial intelligence outlook against uncertainty over the pace of new chipmaking capacity.

The stock was recently down 7.5% at $461.50, recovering from an earlier drop of as much as 9% to $452.81. The decline marked its steepest intraday selloff since July 28.

The weakness extended across the semiconductor equipment sector. KLA Corp. and Lam Research each fell about 4%, while ASML Holding declined 3%, with all three stocks recovering from their session lows. ASML is scheduled to report earnings Wednesday, putting the European chip-equipment maker’s results and outlook in focus as investors assess the strength of semiconductor capital spending.

Chief Executive Gary Dickerson expressed confidence that demand for computing power would continue to expand rapidly, supporting