Intel Shares Plunge 9.7% as AI Demand Concerns Trigger Global Chip Selloff
INTC•Intel shares plunged 9.7% and Micron fell 4.7% after US chip stocks tanked on concerns that AI hardware production could outstrip demand, while SK Hynix climbed 2.4%. The divergent moves reflect investor rotation amid fears of an oversupplied AI chip market.
1. Selloff Driven by AI Demand Fears
US chip stocks plunged after investors grew concerned that ramped production could outpace demand for artificial-intelligence hardware, sending Intel shares down 9.7% and Micron 4.7%.
2. Divergent South Korean Performance
South Korean chip leader SK Hynix bucked the trend with a 2.4% gain as investors rotated into names perceived to have stronger order books for next-generation memory chips.
