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Here's your afternoon T&B Tech Minute for Tuesday, September 23rd. I'm Julie Chang for the Wall Street Journal.

Tech stocks saw a broad sell-off this afternoon. Investor favorites NVIDIA and Amazon let the way lower.

By mid-afternoon, NVIDIA was down more than 3%, while Amazon was down nearly 3%. Most of the magnificent 7 stocks slipped.

This comes a day after Nvidia announced that it would invest up to $100 billion in

Open AI to fund a data center buildout.

Some investors appear to be concerned about a potential circular economy.

In other words, whether there's actual demand for

NVIDIA chips, or if NVIDIA is investing in AI companies that then use those funds to buy

more of its chips. Amazon plans to shut down 14 of its brick-and-mortar Amazon Fresh

stores in the UK and convert the other five it runs there into Whole Foods locations.

Amazon Fresh stores operate with technology instead of cashiers, and the e-commerce giant

open its UK stores four years ago. The company also says it'll roll out same-day delivery for

perishable groceries in the country, and it aims to at least double the number of prime

members who can access three or more grocery delivery options through its local partnerships.

And U.S. startups are rethinking their hiring plans following the new $100,000 H-1B visa fee that

President Trump announced last week.

Trump's executive order says the fee is meant to discourage replacing American workers with

lower-paid foreign ones. The WSJ has spoken with some founders who say, in response to the fee,

they plan to hire more foreign contractors remotely or rely more on international offices.

Among well-funded companies, some aren't ruling out paying the fee in rare cases. Meanwhile, venture investors have told the WSJ that the high fee

...