Sandisk (SNDK +1.97%) stock is in a three-day slump.

Spooked by reports that Korea might want to tax AI profits earlier in the week, Sandisk shares sold off Tuesday — and then kept on going down. Shares of the company, which specializes in producing NAND flash memory for use in artificial intelligence, slipped another 4.3% through 10:55 a.m. ET Thursday.

And there doesn’t seem to be any bad news to explain it.

Image source: Getty Images.

Good news from China

The contrary, actually.

Over in China, Nvidia (NVDA 4.39%) CEO Jensen Huang accompanied President Trump on his visit to meet with President Xi Jinping, and announced a deal that will permit it to ship H200 artificial intelligence chips to the Middle Kingdom. Logically, more AI…