Tech stocks declined sharply on Monday, with AI company Nvidia down 16%, Taiwan Semiconductor Manufacturing (NYSE: TSM) falling by 11% and Oracle (NYSE: ORCL) down by 15%. The stock drops amount to a $1.6 trillion drop on Wall Street after DeepSeek’s release, according to The Australian. Stocks from all three companies gained by almost 3% Tuesday.
Spot uranium down
Alongside those movements, the spot price of uranium, regarded as key to the development of power-intensive AI as a fuel for nuclear power, fell on Monday night. The price was down by $3.90 per lb. uranium oxide (U3O8) to $67.30 per lb. on Tuesday, for a weekly decline of $6.55 per pound.
There were 21 market transactions representing 1.8 million lb. of spot U3O8 in total over the last week, BMO Capital Markets analyst George Heppel said on Tuesday citing data from nuclear industry research company UxC. But he added that additional demand interest…
