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South Korean stocks jump 15% after AI overspending worries ease
The rebound followed a sharp sell-off, with chip shares leading the surge as AI budget concerns faded.
After a sharp sell-off, South Korea’s stock market surged, jumping about 15 percent as investor concerns about overspending on artificial intelligence eased, according to NYT Business.
The relief rally lifted chip-related stocks, helping drive the market higher after earlier losses tied to fears about the pace and scale of AI spending.
As the AI overspending worry cooled, sentiment improved across the tech and semiconductor complex, which NYT Business said was a key driver of the day’s gains.
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