Nvidia slumps after report of AI chip delay amid broad selloff
** Shares of Wall Street darling Nvidia NVDA.O drops 10% to $96.54 premarket
** Design flaws could cause delay of three months or more in the launch of Nvidia's upcoming artificial intelligence chips, the Information reports
** The setback could affect customers such as Meta META.O, Google GOOGL.O and Microsoft MSFT.O, who have collectively ordered tens of billions of dollars' worth of chips - report
** The report comes as investors globally are spooked by U.S. recession fears, with AI beneficiary semiconductor stocks that powered U.S. stock markets to record highs this year leading declines on Monday
** Nasdaq 100 NQcv1 drops 4.6%, VanEck Semiconductor ETF SMH.O slides 6.8%
** NVDA shares have lost 17% of their value
Reporting by Medha Singh
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