Chip stocks slide as fears mount over scale of AI investment

Semiconductor stocks declined sharply after the Broadcom chief likened AI investments to a casino. This triggered a sell-off across Asian markets, with South Korea's Kospi index tumbling 6.25%, impacting Samsung and SK Hynix. Japan's Nikkei fell 1.8%, and Taiwan's exchange dropped nearly 2%, with TSMC seeing similar losses. Additionally, Chinese memory chip maker CXMT reported significant progress on a new chip architecture, further contributing to the volatility and investor fears regarding the scale of AI spending.