Nasdaq Slides 1.2% to 12-Week Low as AMD Joins Tech Decline
The Nasdaq Composite opened 1.2% lower at 22,293.85 Monday, marking its lowest level since Nov. 21 and extending AMD shares’ losing streak alongside tech peers. Micron’s announcement of a $50 billion investment in two new Idaho fabs and a $9.6 billion Japan project underscores memory shortages that may constrain AMD GPU production.
1. Nasdaq Decline and AMD Shares
US markets opened weak Monday, with the Nasdaq Composite down 1.2% at 22,293.85—its lowest level since Nov. 21—and on track for a possible sixth straight weekly loss. AMD was among the notable decliners in the tech sector, reflecting broader investor caution over AI momentum and big‐tech valuations.
2. Micron’s Memory Expansion and AMD Supply
Micron outlined a $50 billion expansion in Boise, Idaho, planning two new fabs by end-2028, plus a $9.6 billion project in Japan. This capacity increase responds to AI-driven memory shortages that risk limiting AMD’s GPU output and could pressure chip availability through mid-2027.