BUZZ-US chip index on pace for biggest weekly drop in over 15 months as AI rally fizzles out

Shares of U.S. semiconductor-related companies drop between 3% and 5% in premarket trading, with the Philadelphia SE Semiconductor index .SOX set for an 8.5% drop for the week, its biggest weekly fall since March 2025.

Chipmakers globally are under pressure as investors assess the durability of the artificial intelligence-driven rally.

• Nvidia NVDA.O falls 3%, Advanced Micro Devices AMD.O down 4%, Intel INTC.O sheds 4.6%, Broadcom AVGO.O drops 2.4%, Marvell Technology MRVL.O off 3.8%, Qualcomm QCOM.O down 3%
• Apple AAPL.O is set to overtake Nvidia to become the world's most valuable company, if losses hold
• Memory chipmakers fall: Micron Technology MU.O drops 4%, Sandisk SNDK.O off 5.4%, Western Digital WDC.O falls 5.6% and Seagate Technology STX.O down 3.7%
• U.S.-listed shares of Korean chip giant SK Hynix SKHY.O drop 3.3% to $147.3, on pace to fall below its U.S. offering price of $149 for the first time