Asia tech rout, AI funding worries
Global technology and semiconductor stocks experienced a massive sell-off, wiping over $1 trillion in market value this week. Investors are concerned about high interest rates, AI infrastructure costs, and potential memory chip oversupply.
Why it matters
The downturn reflects growing market skepticism regarding the sustainability of the current AI investment boom and its impact on global tech valuations.
Nvidia , Micron and AMD were all down in premarket trading on Thursday, as AI stocks across the globe continued a plummet that's seen over $1 trillion wiped from their market caps this week.
Nvidia fell 1.8%, Micron 4.4%, AMD 3.5%. Neoclouds also dropped, with CoreWeave down 5.3% and Nebius 4%. Oracle was trading at 2% lower.
20 of the most valuable global AI and semiconductor stocks have shed more than $1 trillion so far this week, as interest rate hikes, AI financing and intensifying competition weighed on sentiment.
A sell-off in global technology hardware stocks also deepened across Asia and Europe on Thursday.
South Korean chip giant SK Hynix plunged more than 10%, while rival Samsung Electronics fell 8.73%. Other South Korean chip-related stocks also came under pressure. LG Innotek sank 8.95%, Seoul Semiconductor shed 9.28% and Samsung SDI declined 6.26%.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in