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Chip stocks bounce up to 8% as US stock futures recover after Thursday’s stock market crash - Jefferies says sell-off was ‘reactionary, not a reset’
Chip stocks bounced back before Friday's market open after Thursday's brutal sell-off sent the Philadelphia Semiconductor Index down 12.2%. Nvidia, AMD and Intel recovered, while Aehr Test Systems, Camtek and Cohu also posted strong gains. Jefferies called the sell-off "reactionary, not a fundamental reset."
US polls hit tech stocks; Qcomm’s Dhanteras gold rush
US technology stocks took a major beating days after the Democratic Party took control of both chambers of the Congress. This and more in today’s ETtech Top 5.
NVDA stock crash: Nvidia’s worst day since the DeepSeek shock - The AI giant fell 9% and is now down for the year
Nvidia stock rebounds 5% after 9.26% crash: Nvidia suffered its worst single-day fall since the January 2025 DeepSeek shock, with shares plunging 9.26% to $181.60 on Thursday and turning negative for 2026. The crash came as Wall Street lost nearly $3 trillion in market value. Friday’s futures pointed to a partial recovery, with Nvidia rebounding in premarket trading as chip stocks attempted to recover.
US stocks suffer worst rout since 2020: Dow plunges 1,800 points, Nasdaq crashes 5.5% as AI fears wipe out $3 trillion
Wall Street experienced a major selloff in technology stocks following recent midterm election outcomes. The Nasdaq Composite recorded its steepest decline in 19 months, while the S&P 500 also fell sharply. Investors are worried about potential regulations impacting AI infrastructure growth amid increasing political resistance. Major chipmakers, including Nvidia, saw significant losses alongside other AI-related companies. Analysts are closely monitoring upcoming economic data to gauge the Federal Reserve's actions.
Nvidia, AMD, Meta, other tech stocks nosedive as Democratic sweep prompts AI slowdown fears
Nvidia and AMD faced noticeable drops as Democratic wins sparked fears regarding possible restrictions on AI development. This ripple effect was felt across the Nasdaq and Dow Jones, both of which registered significant declines. Investors showed concern over delays in data center projects tied to promises from recently elected officials.
Nomura silences AI doubters, says Kospi can hit 10,000 mark to double as fundamentals are intact
South Korea's Kospi plunged to a nine-month low amid fears that US political shifts could slow AI infrastructure spending and hurt chip demand. However, Nomura remains bullish, projecting a potential recovery towards 10,000, with a near-term target of 7,500–8,000.
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AI boom turns chip packaging into the next battleground for semiconductors
Billions of dollars are being invested in advanced chip packaging due to the demand for AI chips. This growing need is pushing companies to expand their production capacities significantly. Taiwan's TSMC is at the forefront of packaging technology, yet limitations have spurred alternatives.
AI meltdown: Kospi crashes 9%, hits 9-month low as Wall Street bloodbath after midterm elections spills to Asia; circuit breaker triggered
The sell-off followed a global market rout on Thursday, which saw the Nasdaq 100 plunge 6.4%, wiping out a record $2.3 trillion in market value. The weakness extended across Asia on Friday, with chip-heavy indices coming under pressure. Japan's Nikkei 225 Stock Average and Taiwan's Taiex were also on course to enter technical bear market territory, having fallen 20% from their respective peaks.
Nasdaq tumbles over 3% as tech stocks extend selloff after Democrats sweep midterms; Tesla plunges 9%, chipmakers slide
US stocks faced a sharp decline on Thursday, particularly in technology shares, amid concerns over regulatory scrutiny. The Nasdaq Composite fell over 3%, reversing optimism following the Democrats' midterm election victories. Key companies including Nvidia, Advanced Micro Devices, and Tesla were among the hardest hit. Investors expressed worries about the implications of stronger Democratic control on the artificial intelligence industry.
Nasdaq set to confirm correction as AI stocks tumble
The shock selloff comes a day after the Democrats' election victory including in some key data-center states drove concerns about a slowdown in the AI data-center buildout, optimism about which had pushed stock markets to record highs earlier this year.
AI, data-center stocks slip as Democratic sweep clouds expansion plans
Stocks related to AI and data centers are facing a slump in premarket trading as Democrats secure significant wins in the US midterm elections. Investors are wary as possible regulatory changes from Congress loom, jeopardizing the industry's growth prospects. Analysts highlight that many anticipated data center capacity expansions could be at risk due to halts in construction.
AI stocks retreat as Democratic sweep puts data centre boom in focus
AI-related stocks came under pressure on Wednesday despite a broader Wall Street rally following the Democratic sweep of Congress. Data centre companies CoreWeave, Iren and Nebius fell, alongside Nvidia and Marvell, as investors weighed concerns over rising power costs, job losses, political scrutiny and debt-funded AI spending.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
Democrats’ win rattles Trump trades from AI stocks to crypto
The recent Democratic majority in Congress triggered a downturn in global markets, most notably impacting technology stocks. Investors are now wary about President Trump’s policies and their implications for AI investments. Conversely, solar stocks saw an uptick, signaling potential changes to clean energy regulations. Additionally, Treasury yields dropped as heightened oversight dampens fiscal stimulus hopes, while cryptocurrencies also fell amid uncertainty surrounding upcoming industry regulations.
AMD's OpenAI, Meta chip deals trigger $1 billion quarterly charge
AMD in February agreed to sell up to $60 billion worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the startup the option to buy up to roughly 10% of the chipmaker.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
Marvell to buy Lumentum in $115 billion deal in AI data-center bet
Marvell Technology is poised to acquire Lumentum in a groundbreaking all-stock transaction worth $115 billion. This strategic acquisition is intended to position Marvell more competitively against Broadcom in the rapidly growing AI sector. With this expansion, Marvell anticipates boosting its optical components production to satisfy the escalating demand in data transfer spurred by AI innovations in data centers.
Intel stock plunges 30% as weak PC demand and AI costs trigger global chip selloff
Intel shares plunged 30% after the chipmaker issued a weak fourth-quarter revenue forecast and warned of negative cash flow for the year. The warning triggered a global semiconductor selloff, with Nvidia, AMD and other chip stocks declining as weak PC demand and rising AI infrastructure costs weighed on sentiment.
Asia chip firms see strong AI demand; market jitters continue
Asian chip-supply-chain companies report a strong ongoing demand for AI-related products despite investor concerns. Foxconn Chairman Young Liu stated that AI is not in a bubble, underscoring clear demand for AI products. Tokyo Electron reported a significant forecast increase in operating profit due to robust demand for chipmaking equipment. SK Hynix announced plans to return about $75 billion to shareholders due to rising memory prices.
X factor in Musk cocktail: AI synergies are real, but the proposed SpaceX-Tesla merger has red flags for shareholders
Elon Musk is exploring a potential merger between Tesla and SpaceX amidst rising valuations and technological collaboration. Both companies aim to enhance their capabilities in AI and related technologies while managing significant capital expenditures. However, the merger raises concerns about shareholder control and scrutiny over company operations. Additionally, the merger could face political scrutiny from both Beijing and Washington due to data privacy issues.
China's CXMT to start advanced AI memory production despite poor yields
The decision highlights China's intense shortage of the AI memory chips, which are essential to a government-backed push to develop domestic alternatives to Nvidia's AI processors at scale amid US curbs on access to foreign-made technology.
AI chip giant SK hynix says quarterly operating profit soars 630%
South Korean chip giant SK hynix said Wednesday its third-quarter operating profit soared 632 percent on-year, largely driven by the artificial intelligence industry's explosive demand for its advanced memory chips. The memory chip giant said it had posted record revenue and operating profit for six straight quarters since the second quarter of last year.
AI bubble bursting or just letting out air? Neoclouds may offer clues
Elon Musk has warned that over 200 neocloud companies may face significant challenges, including potential failures and consolidation. Despite high demand for AI computing capacity, rising credit costs impact the financial stability of these companies. Research firm Gartner anticipates that more than 80% of neocloud providers may cease independent operations by 2030. Tighter credit conditions could restrain excessive AI spending without affecting overall investment growth.
Meta eyes record $95 billion equity raise to fund AI expansion
The Facebook parent has launched public offerings worth about $35 billion in common and preferred stock, and said it also plans to launch a separate at-the-market share sale program worth up to $60 billion.
Global Market | SK Hynix weighs $12 billion special dividend ahead of Q3 Results: Reports
SK Hynix said it would announce shareholder-return measures alongside its quarterly results amid reports that it was considering a special dividend funded by gains from its Kioxia stake sale. The review comes as investors push major chipmakers to distribute more cash generated by the AI memory boom through dividends and share buybacks.
ByteDance, Alibaba, Tencent place over $35 billion worth of Nvidia chip orders
US-based chipmaker Nvidia has told customers and partners it cannot guarantee that it can fill the orders because demand from Chinese technology companies far exceeds planned production, the two sources and a third person familiar with the matter said. They requested anonymity because they are not authorised to speak to the media.
Nvidia wins fast-growing AI startup Modal for new central processors
Modal, a cloud-computing startup that rents out computing power to AI developers, said it plans to start using Nvidia's new Vera central processor for the first time for hosting agents, the AI systems that can carry out long-running tasks for human users. Modal until now has run such work only on Intel and AMD chips.
Samsung to use TSMC technology for Nvidia's next-generation memory chips: Report
Nvidia has asked Samsung, SK Hynix and Micron Technology to use TSMC's process for NVHBM base dies, and sixth-generation DRAM technology for its core dies, the newspaper said, citing industry sources.
AI race may depend more on access to power, infrastructure than chip supply: Morgan Stanley
The assessment comes as rapid investment in AI infrastructure threatens to outpace the availability of electricity, raising concerns that smaller companies could struggle to compete with financially stronger technology giants.
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