Chip stocks get hammered: What triggered the $1 trillion AI wipeout on Nasdaq
US chip stocks witnessed a sharp sell-off today, with major semiconductor companies losing billions of dollars in market value as investors grew concerned about the future of artificial intelligence (AI) infrastructure spending.
The Philadelphia Semiconductor Index, which tracks major chipmakers, plunged nearly 11%, putting it on course for its worst single-day performance since the COVID-19 market crash in March 2020. Nvidia, Broadcom, Advanced Micro Devices (AMD), Qualcomm, Micron Technology and several other semiconductor companies were among the biggest losers.
