Nvidia, AMD, and Micron fell in U.S. pre-market trading. The sell-off in AI stocks continues

Shares of Nvidia, AMD, and Micron fell in pre-market trading in the U.S.: On October 15, the sell-off of stocks in companies related to artificial intelligence intensified worldwide. Since the start of this week, the 20 largest AI and semiconductor companies by market capitalization have collectively lost more than $1 trillion in market value, according to CNBC.

At the time of publication, Nvidia shares were trading down 1.5% in pre-market trading in New York, AMD shares were down 2.25%, and Micron shares were down 3.4%. The decline also affected cloud providers: CoreWeave shares, which had fallen more than 15% the previous day, plummeted another 6% on October 15, while Nebius shares fell 3%. Oracle shares dropped 2%.

Earlier on October 15, during Asian trading, shares of South Korean chipmaker SK Hynix fell by more than 10%, while those of its competitor, Samsung Electronics, fell by 8.7%. In Japan, shares of investment group SoftBank fell 7.9%, while those of semiconductor testing equipment manufacturer Advantest dropped nearly 14%. Shares of the world’s largest contract chip manufacturer, Taiwan’s TSMC, fell 1.8%.

Market pressure intensified following news thatU.S. inflation in September came in higher than expected. This fueled expectations that the Fed would raise interest rates as early as October—and, consequently, that borrowing costs would rise, The Wall Street Journal reported. Investors are concerned that all of this could negatively impact large-scale capital expenditures on AI, CNBC notes.

In Europe, at the time of publication, shares of the Dutch company ASML were down 5%, Infineon Technologies was down 7.5%, and ASM International was down 7.8%. Nokia shares fell 3.1%.

This news story is being updated

This article was AI-translated and verified by a human editor