Semiconductor stocks sink as Google’s new AI tech threatens memory demand – Micron drops 4.82%, Sandisk tanks 8.35%

Semiconductor stocks slumped on Thursday following Alphabet Inc.’s Google highlighting research into a novel algorithm designed to optimize storage efficiency for artificial intelligence. This technological advancement from Google could potentially mitigate current supply shortages, leading to a downward adjustment in market pricing.

Although the research was originally published last year, the company drew fresh attention to it on social media platform X this week.