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Korea’s KOSPI crashes another 5% as AI rout deepens; AI bellwether down over 40% from peak
Chip heavyweight SK Hynix Inc. headed for its lowest close since April. Data-center infrastructure company Elice Inc. plunged as much as 32% in its trading debut in Seoul. Both AI bellwethers SK Hynix and Samsung have plunged 35% and 22%, respectively.
From worst to best: How IT stocks staged a Rs 2.6 lakh crore revival this week
Indian IT stocks staged a sharp comeback this week, adding Rs 2.6 lakh crore in market value as the sector gained 12% to become the best-performing index. Better-than-expected Q2 earnings, positive management commentary and a selloff in AI-linked stocks helped revive sentiment, even as concerns over AI adoption and earnings growth persist.
Rs 82,500 crore rally in 3 days: Why TCS, HCL Tech, other IT stocks jumped up to 12% in 3 days and will the boom last?
Indian IT stocks have rebounded sharply. The Nifty IT index has risen 8%, adding Rs 82,500 crore to the sector’s market capitalisation. The rebound follows a selloff in global AI-linked stocks driven by concerns over stretched valuations, concentration risks and uncertain returns on heavy AI investments.
Why governments might secretly wish for an AI stumble
Governments are increasingly concerned about the potential volatility linked to the AI investment boom. Recent sell-offs in AI-related stocks have prompted a renewed interest in government bonds offering high yields. Major investment firms like BlackRock are adjusting their stock recommendations due to perceived AI risks and inflation pressures.
Why governments might secretly wish for an AI stumble: Mike Dolan
Concerns over AI-related investment instability are prompting a notable pivot towards government bonds among investors. Top asset managers are revising their strategies, highlighting increased risks inherent to AI technologies. Current discussions surrounding interest rates and inflation remain pivotal, affecting market behaviors. This could represent a critical juncture where investors opt to secure long-term yields, potentially providing temporary fiscal relief for governments amid these market adjustments.
Global Market: Why China’s CXMT is putting global memory chip giants under pressure
Global semiconductor stocks tumbled as Chinese chipmaker CXMT’s reported progress on a new memory chip design raised concerns about intensifying competition. Samsung, SK Hynix and Micron face potential pricing pressure as Chinese manufacturers seek to narrow the technology gap. The selloff also reflects growing scrutiny of AI valuations and whether heavy investment in AI infrastructure will deliver sustainable returns.
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TCS, HCL Tech, Infosys shares surge up to 11% in 2 days; Nifty IT soars 2,000 points. More steam left for rally?
Indian IT stocks rallied as concerns over AI-driven disruption eased, triggering an “anti-AI” trade. The Nifty IT index surged over 2,000 points in two sessions to cross 30,000, its first move above the mark in nearly a month. HCL Tech gained nearly 11% in two days following its Q2 results, while TCS and Infosys rose 6–10%.
US stocks: Nasdaq ends down as chipmakers fall and bank earnings roll in
In a recent trading session, the Nasdaq index took a hit as chip stocks continued their downward spiral, amid diverging results from major banks like Citigroup and Goldman Sachs. The PHLX chip index faced a substantial decline, sparking fears surrounding competition in this sector. Despite the turbulence, analysts express optimism about future earnings linked to AI-driven innovations.
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.
AI investors or casino gamblers? What Broadcom CEO Hock Tan said that sparked sharp global AI selloff
Global AI stocks plunged after Broadcom CEO Hock Tan warned that investors are treating artificial intelligence like gambling, raising concerns about excessive valuations and unsustainable spending. He questioned OpenAI’s long-term profitability despite strong revenue growth. South Korea’s Kospi and Japan’s Nikkei declined, while Indian IT stocks rallied amid the global technology selloff.
AI traders behaving like casino gamblers? What made chip trade toxic and why that’s good news for India
Global AI stock enthusiasm hit a roadblock as South Korea's Kospi plunged 7.4% on chip competition concerns and Broadcom's warning on AI spending. Conversely, Indian IT stocks surged, adding Rs 26,000 crore in market cap as investors rotated into services over semiconductor hardware exposure.
Rs 26,340 crore added in minutes! Why HCL Tech, TCS and other IT stocks rallied up to 7%
Indian IT stocks rallied up to 7%, with the Nifty IT index gaining 3.3%, as concerns over rising AI investment costs and uncertain returns rattled global technology stocks. Broadcom and Intel executives flagged capital constraints, prompting investors to reassess the AI boom. Separately, OpenAI told investors its September annualised revenue was nearly $50 billion, below its earlier indicated figure of $70 billion.
Global Market Today: Asian shares slide as chip stocks tumble; investors eye US earnings, CPI
The MSCI Asia Pacific Index declined 0.3% with equities in South Korea slipping over 3%. That came after a US gauge of chipmakers fell 2.7% Monday, while the Nasdaq 100 Index lost 0.7%.
Broadcom CEO says biggest hurdle in AI-fuelled tech growth is capital, not memory chips
At a panel in Singapore on Monday, Tan said that the company is overcoming wafer shortages and memory shortages, but capital will be the biggest constraint
Trump calls Sundar Pichai a ‘monster’; Google CEO has the perfect comeback: 'Hopefully a better tagline than I’m a...'
During a recent press interaction, US President Donald Trump humorously referred to Google CEO Sundar Pichai as a 'monster'. Trump's playful comment emphasized how little people know about Pichai and stressed his name distinctly. In response to the compliment, Pichai made a light-hearted joke regarding the situation. This unexpected exchange between them captured attention and prompted reactions online. The moments showcased the humorous dynamics of their relationship during the engagement.
Broadcom raises AI chip forecast as Big Tech keeps writing bigger checks
They have gained about 6% this year, significantly underperforming rivals and the broader semiconductor index, as AI spending concerns and increased competition persist, including Marvell's recent custom chip deal with Google.
AI bellwether Broadcom shares fall 5% a day after results
Broadcom shares dropped 4.7% in Frankfurt on Friday a day after the company projected first-quarter revenue above Wall Street estimates, but said margins would fall due to a higher mix of AI revenue.
Broadcom shares rally on new AI deal, CEO's assurance
The company on Thursday said it has secured over $10 billion in AI infrastructure orders from a new customer, with CEO Hock Tan forecasting "significantly improved" AI revenue growth in fiscal year 2026.
Broadcom forecasts fourth-quarter revenue above estimates
Broadcom has been one of the biggest beneficiaries of the generative artificial intelligence boom with hyperscale customers, including Google, adopting its custom accelerators due to their ability to process large quantities of data quickly.
OpenAI set to start mass production of its own AI chips with Broadcom in 2026: FT
OpenAI is set to launch its first AI chip next year in partnership with Broadcom, aiming to reduce reliance on Nvidia, according to the Financial Times. The chip will be used internally. This move mirrors efforts by Google, Amazon, and Meta to build custom chips for growing AI workloads.
Broadcom rides on AI chip demand to deliver upbeat revenue forecast
Broadcom, a key player in the AI hardware ecosystem, helps design custom processors that are highly specialized integrated circuits designed for AI and cloud computing companies such as OpenAI and Google. The Palo Alto, California-based company has begun shipping its latest networking chip, the Tomahawk 6, designed to accelerate AI workloads.
Broadcom announces new $10 billion share buyback plan
Broadcom, which supplies semiconductors to Apple, last month forecast strong second-quarter revenue and hinted about new potential customers that could boost revenue in a highly competitive market.
Broadcom CEO compensation more than doubles to $162 million in 2023
CEO Hock Tan's 2023 pay, which was fueled by stock awards of $160.5 million, was 510 times the median salary of employees at the chip firm.
Broadcom to lay off 1,300 VMware employees following takeover: report
Broadcom closed its $69 billion acquisition of VMware on November 22 after receiving regulatory approval from China.
Broadcom forecasts third-quarter revenue above estimates on AI boost
Broadcom supplies chips used in data centers for networking and specialised chips that speed up AI work. It released a new chip for wiring together supercomputers for AI work using networking technology in April.
EU antitrust regulators extend decision on Broadcom, VMware deal to June 26
The deadline was extended in agreement with the companies, a European Commission spokesperson said.
Broadcom CEO seeks to convince EU on $61 billion VMware deal
Tan, flanked by his executives and lawyers, arrived early Friday morning in Brussels for a closed hearing on one of the biggest tie-ups in the history of the technology sector. He declined to comment as he headed into the hearing.
AI boost lifts Broadcom forecast amid lingering enterprise weakness
Broadcom, which supplies chips used in data centres for networking and specialised chips that speed up AI work, expects networking revenue to grow 20% in the current quarter.
How Broadcom CEO Hock Tan shaped a tech giant through acquisitions
For Tan, now 70, the deal would be the culmination of a string of acquisitions that has helped him turn Broadcom into a technology conglomerate worth $225 billion, along the way building a reputation as an astute dealmaker and ruthless cost-cutter.
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