The GraniteShares 2x Long AMD Daily ETF (AMDL) closed down 3.05% at $6.67 on February 3, 2025, as semiconductor stocks, including AMD, faced significant pressure from new tariffs and competitive challenges. AMD's stock price fell 0.66% to $115.18, influenced by the imposition of tariffs by President Donald Trump on imports from China, Canada, and Mexico, which heightened concerns about disruptions in the global tech supply chain. The emergence of China's DeepSeek AI models, offering competitive alternatives to Western technologies, further fueled investor anxiety, leading to a broader sell-off in semiconductor stocks. Additionally, AMD's competitive landscape is being reshaped by major tech companies shifting towards custom silicon for AI infrastructure, posing challenges for AMD as it competes with Nvidia's dominance in the AI chip market. Despite expectations of a 22% revenue increase, AMD's growth outlook is clouded by these competitive pressures. The market's reaction to these dynamics is evident in the performance of semiconductor stocks, which have been hit hard by both tariff concerns and the disruptive potential of new AI technologies from China.