Big Tech Stocks Fell; Oracle down 7%; AMD down 6%; Broadcom down 5%; Micron, TSMC, SMCI and Nvidia down 3%. Worries about whether ChatGPT-developer OpenAI can meet all its spending commitments were dragging on the chips sector as a whole.

OpenAI has recently missed its own targets for new users and revenue, leading to concerns among executives about whether it will be able to fulfill its spending commitments, The Wall Street Journal reported, citing people familiar with the matter.

OpenAI didn't immediately respond to a request for comment from Barron's early on Tuesday. The company told the Journal it was "buying as much compute as we can."

Nvidia, AMD and Broadcom all have supply deals with OpenAI. Nvidia invested $30 billion in OpenAI's latest funding round, although it scaled down a previous commitment to put in up to $100 billion.

Chip stocks might have been ripe for a pullback in any case -- on Monday, the iShares Semiconductor exchange-traded fund snapped a winning streak which had lasted 18 consecutive trading sessions.

"This morning's moves in individual stocks indicated some profit-taking across semiconductors, which seems reasonable given their incredible run since the end of March," wrote David Morrison, senior market analyst at Trade Nation, in a research note.