South Korean chip stocks slide after overnight US selloff on AI boom concerns

Intel Corporation
Micron Technology, Inc.
Advanced Micro Devices, Inc.
PHLX Semiconductor

Intel Corporation

INTC

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Micron Technology, Inc.

MU

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Advanced Micro Devices, Inc.

AMD

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PHLX Semiconductor

SOX

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SEOUL, July 8 (Reuters) - Shares of South Korean memory chipmakers Samsung Electronics 005930.KS and SK Hynix 000660.KS fell as much as 4.4% and 5%, respectively, in early morning trade on Wednesday, tracking a broad selloff in U.S. semiconductor stocks after investors grew increasingly concerned about the sustainability of the AI-driven chip boom.

High-flying memory and semiconductor stocks tumbled overnight, with Intel INTC.O, Micron MU.O and AMD AMD.O closing down 9.7%, 4.7% and 6.5%, respectively. MKTS/GLOB

Also, the Philadelphia Semiconductor Index lost .SOX 4.7% as investors questioned whether AI-related spending can be sustained.


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