Nvidia (NVDA) Nvidia stock fell 4% last night after a sell-off of global chip stocks and US technology firms. The Nasdaq Composite fell by over 180 points on Wednesday after the sector was hit by concerns about the Federal Reserve pushing back interest rate cuts, as well as China’s weak economy. Customers are holding off on buying as they work through stockpiles, however, China’s buying of less-sophisticated machines has held up amid US restrictions on its access to high-tech equipment. It came as ASML (ASML), the largest supplier of equipment to computer chip makers, missed sales forecasts, which sent shares lower. Read more: FTSE 100 LIVE: Stocks rise as positive corporate results offset drop in European electric car sales TSMC (TSM) Taiwan Semiconductor Manufacturing Company (TSMC) has revealed a better-than-projected revenue outlook amid rising demand for AI-related products. The Taiwanese chipmaking company, whose clients include Apple (AAPL) and Nvidia (NVDA), stuck with plans to spend as much as $32bn (£25.66bn) in 2024. TSMC has gained about $340bn of market value since an October 2022 trough, riding bets it will become a top winner of a global boom in AI development. It posted a better-than-expected rise of 9% in net income...