---
title: "Tech Down as Traders Retreat From Magnificent Seven — Tech Roundup"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288638182.md"
description: "Tech stocks declined as traders retreated from mega-cap AI firms. The Roundhill Magnificent Seven ETF fell over 1%, while Nvidia shares dropped more than 3%. Meanwhile, Baidu plans to list its chip unit in Hong Kong this year, with management projecting healthy revenue growth driven by AI income."
datetime: "2026-06-03T23:00:36.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288638182.md)
  - [en](https://longbridge.com/en/news/288638182.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288638182.md)
---

# Tech Down as Traders Retreat From Magnificent Seven — Tech Roundup

Shares of technology companies fell as traders retreated from mega-cap firms driving the artificial-intelligence boom.

The Roundhill Magnificent Seven exchange-traded fund, a basket of the largest U.S. tech companies, fell by more than 1%, trimming its gains for the year to date to 4.5%.

Shares of Nvidia, which has been on a torrid run since a wobble during the early stages of the Iran war, fell by more than 3%.

Chinese search giant Baidu expects to list its chip unit in Hong Kong within this year, its finance chief said as he projected healthy revenue growth over the next few quarters, supported by AI income.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

June 03, 2026 18:46 ET (22:46 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

### Related Stocks

- [MAGS.US](https://longbridge.com/en/quote/MAGS.US.md)
- [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md)
- [NVDS.US](https://longbridge.com/en/quote/NVDS.US.md)
- [NVDU.US](https://longbridge.com/en/quote/NVDU.US.md)
- [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md)
- [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md)
- [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md)
- [NVD.US](https://longbridge.com/en/quote/NVD.US.md)
- [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [BIDU.US](https://longbridge.com/en/quote/BIDU.US.md)
- [09888.HK](https://longbridge.com/en/quote/09888.HK.md)
- [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md)
- [89888.HK](https://longbridge.com/en/quote/89888.HK.md)

## Related News & Research

- [Why did Micron stock bounce back today?](https://longbridge.com/en/news/289078520.md)
- [Upstart chipmakers keep challenging Nvidia. This time it's Microsoft-backed D-Matrix](https://longbridge.com/en/news/289195855.md)
- [Nvidia Is the 'King of Diversity,' Says 5-Star Bank of America Analyst amid Unprecedented Chip Squeeze](https://longbridge.com/en/news/289053221.md)
- [South Korea's Doosan sees energy, robotics businesses supporting Nvidia AI factory push](https://longbridge.com/en/news/288975122.md)
- [Nvidia or Palantir: Top Investor Says Only One AI Stock Is a Strong Buy](https://longbridge.com/en/news/289524885.md)