Chip stocks head for steepest weekly drop in over a year as AI trade falters

Price ActionIndustry Impact 4
โดย Reuters·Read original
Summary · why it matters

A rotation out of AI-exposed stocks sent the Philadelphia SE Semiconductor Index down 11% this week, putting it on track for its largest one-week fall since March 2025 and nearly 24% below its late June all-time high. Nvidia fell 3.4%, Advanced Micro Devices slid 4.9%, and Applied Materials dropped 6.5%, while memory chip names Micron and SanDisk shed around 1% each. The pullback reflects profit-taking and rising scrutiny of AI capex sustainability, with analysts pointing to the unveiling of Chinese startup Moonshot's 2.8 trillion-parameter Kimi K3 model and a report that Alphabet's Google is months behind on its Gemini 3.5 Pro release. The S&P 500 Momentum Index has pulled back 10% in July, compared to a 0.8% drop in the broader market, and strong forecasts from TSMC and ASML did little to halt the slide. Attention now turns to upcoming earnings from Alphabet, Tesla, and Intel.

Impact on stocks 10

Semiconductors▼ · 6 stocks
Applied Materials Inc
AMAT
▼ NegativeDemandrelevance

AI trade rotation and scrutiny of AI capex sustainability hurt semiconductor demand outlook

Sandisk Corp
SNDK
▼ NegativeDemandrelevance

Memory chip names like SanDisk shed around 1% as part of broader chip sell-off.

Artificial Intelligence▼ · 3 stocks
NVIDIA Corporation
NVDA
▼ NegativeDemandrelevance

AI trade falters; Nvidia fell 3.4% amid rotation out of AI-exposed stocks and rising scrutiny of AI capex sustainability.

Electrification & Mobility▲ · 1 stocks
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