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Semiconductor shares tumble after Broadcom executive criticizes AI hype

South Korea’s Kospi slid 6.3% as investors dumped chip stocks, with Samsung down 7.4% and SK Hynix down 10%.

Reported · Written up by our desk · Sectors

Semiconductor shares fell sharply after Broadcom’s boss compared parts of the AI investment boom to “casino” gambling, a move that pushed investors out of the chip sector, according to the Guardian Business.

In Asia trading, South Korea’s benchmark Kospi dropped 6.25%, while Japan’s Nikkei fell 1.8% and Taiwan’s exchange fell by almost 2%.

Samsung Electronics shares were down 7.4% on the South Korean exchange, and memory chip maker SK Hynix fell 10%, with TSMC also down around 1.8% in Taiwan.

Elsewhere, Japanese chip equipment maker Tokyo Electron fell 7.15% and SoftBank Group, described as an OpenAI investor, fell 8.5%, while CXMT said it had made progress on a new DRAM architecture intended to increase chip memory density.

Latest closeNikkei 225 70,035.71 ▼0.9%|Kospi 6,803.90 ▼2.0%

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