The Globe and Mail reports in its Wednesday edition that Nasdaq ended sharply lower on Tuesday, weighed down by losses in Micron Technology and other chipmakers owing to mounting doubts about the sustainability of Wall Street's AI-driven rally. A Reuters dispatch to The Globe says Toronto ended slightly higher, mostly owing to a rally in energy stocks and crude oil that picked up steam during the session. Chip stocks in Asia and the United States dropped after memory chip giant Samsung Electronics's blowout earnings report failed to satisfy investors with sky-high expectations. Micron dropped 4.7 per cent and Sandisk lost 7.3 per cent. That helped send the PHLX chip index down 4.65 per cent, reducing its 2026 gain to about 74 per cent. Adding to worries about high-flying chipmakers, Reuters reported that Chinese start-up DeepSeek is developing its own AI chip, a push that could reduce its dependence on Nvidia and Huawei chips. SpaceX fell almost 7 per cent in its first day of trading as part of the Nasdaq 100 Index. The S&P/TSX Composite Index ended up 60.27 points at 35,272.59, after touching its highest level since June 17 early in the session. The Toronto energy sector rose 3 per cent to a two-week high.