US chip stocks fall as CoreWeave debt worries weigh on AI trade
SOXX•US semiconductor shares fell as concerns over AI financing costs and CoreWeave’s debt load weighed on the sector. The Philadelphia semiconductor index declined 1.5% and was set for its steepest eight-session percentage decline since the April 2025 selloff.
1. Chip shares retreat
AMD fell 3.2%, Intel dropped 3%, and Broadcom declined 1.8%. Arm Holdings and Marvell shed 3.4% and 2.2%, respectively, while Lam Research fell 2.9%.
2. AI concerns persist
Caution in the AI sector persisted amid concerns over CoreWeave’s debt load. Reports of advances by Chinese memory-chip maker CXMT also pressured global chip stocks.
3. Memory stocks slide
Micron fell 3%, Western Digital slipped 4%, and Sandisk declined 3.7%. The Philadelphia semiconductor index was up 60.8% year to date, including the session’s move.
