Meta · Intel · ARM · CNBC Technology
Tumbling AI stocks signal another day of turmoil for tech companies
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Tech stocks sold off on Friday amid mounting concerns over the rising cost of artificial intelligence infrastructure.
Key facts
- South Korea's SK Hynix fell more than 8%, while Samsung Electronics lost around 9%
- Intel shed 2.6%, Sandisk fell 4.8%, Arm lost 3.3% and Marvell dropped 3.5%
- Hong Kong-listed Tencent fell around 2%, while Alibaba dropped more than 6%, Baidu lost over 4% and Xiaomi slid 3.7% in the final hour of trade
- Japan's Advantest declined nearly 10%, while Tokyo Electron was down 3.21%
Summary
U.S. semiconductor companies struggled in premarket trading. In Europe, key chip stocks were also down as the market opened. SoftBank Group, which plunged more than 12%, led losses across the region after the Nasdaq Composite fell for a fourth straight session overnight. The Japanese conglomerate could remain under pressure after its chip designer Arm Holdings also fell, underperforming the broader semiconductor sector even as AI-related stocks rebounded sharply.