US chip stocks extend slide as China memory report, AI spending jitters hit sector
Memory shares led declines as reports of CXMT progress and warnings from investors and the IMF fueled concern over AI spending.
6 Articles
6 Articles
US chip stocks slide as China’s CXMT advances; AI spending fears rattle investors
Shares in US chip manufacturers tumbled, primarily influenced by memory and data storage firms, following competitive moves from China's CXMT. The sector faced significant pressure, stemming from concerns over escalating rivalry and demands for AI investments. Key players like Micron Technology, Seagate Technology, SanDisk, and Western Digital saw notable declines in their stock prices.
US chip stocks extend slide as China memory report, AI spending jitters hit sector
Oct 13 (Reuters) - Shares of US chipmakers dropped on Tuesday, with memory-related companies leading losses as reports of a technology advance by China's CXMT stoked competition fears and added to jitters over AI spending in a sector that has rallied...
Semiconductor stocks plunged just before the start of earnings season as investors began to question the sustainability of record profits fueled by the artificial intelligence boom and fear intensifying competition from China.
The US stock markets are weighed down by several semiconductor companies on Tuesday evening. Applied Materials, Lam Research and Micron are falling sharply, while Facebook owner Meta is trading in the opposite direction.
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