Huawei Captures 28% of China AI Chip Market

Nvidia is losing ground in China as domestic rival Huawei nearly doubled its AI chip shipments to claim a 28% market share, according to reporting from Benzinga. The development highlights accelerating competition in a key semiconductor market that has faced increasing export restrictions and shifts in local hardware adoption. While the wire tracks the hardware rivalry overseas, the broader tech complex in the United States is dealing with its own structural friction. I read the dealer map, and right now the tech book is struggling to find traction. QQQ is trading at 740.31, sitting directly in short gamma territory beneath its flip line at 741.63. In short gamma, dealers act as an accelerant rather than a shock absorber, selling into weakness and buying into strength, which tends to widen intraday swings and punish complacency. That positioning places QQQ right against its 740 put wall, with the upper boundary defined by a 748 call wall and an expected move of plus or minus 0.97%. With skew elevated at 2, downside protection remains bid as the index fights to reclaim the flip. Until spot pushes back above 741.63 to return dealers to long gamma insulation, rallies into the 748 call wall face hedging drag, and breaks below 740 risk forced dealer selling. Across the rest of the board, the posture is mixed. SPY sits at 777.48 in long gamma above its 774.52 flip, anchored between a 777 put wall and a 780 call wall with a 15.32 VIX. IWM also holds long gamma at 278.05 against a 275.86 flip. Tech remains the lone major index trapped in the short-gamma churn, absorbing headline friction while dealers press moves under the flip.