Global chip stocks saw a significant correction overnight, with U.S. chip giant Nvidia and South Korea's SK Hynix and Samsung Electronics experiencing sharp declines. This comes amid growing concerns over rising competition, including the nearly 470% IPO surge of China's CXMT and reports of Chinese firms developing technology mimicking ASML's offerings. Analysts also point to unease regarding the substantial cash burn by hyperscalers, who are spending hundreds of billions on AI infrastructure, leading to increased debt loads.